Market LIVE: SGX Nifty signals gap-up start for Sensex, Nifty; Fed to continue rate hikes to fight inflation

1 week ago 29

Share Market News Today | Sensex, Nifty, Share Prices LIVE: SGX Nifty hinted at a flat to positive start for benchmark indices BSE Sensex and NSE Nifty 50. Nifty futures were trading 55 points, or 0.36 per cent, higher at 15,452 on the Singapore Exchange

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets are likely to open higher on Thursday, weekly F&O expiry day, as SGX Nifty hinted at a flat to positive start for benchmark indices BSE Sensex and NSE Nifty 50. Nifty futures were trading 55 points, or 0.36 per cent, higher at 15,452 on the Singapore Exchange. Meanwhile, Wall Street’s main indices ended with slim losses on Wednesday after as investors digested US Fed Chair Jerome Powell’s comments on central bank’s aim to bring down inflation. Asian markets were firm in early trade today. Japan’s Nikkei 225 index rose 0.22%, while the broader Topix index added 0.41%.

Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession. Powell said the pace of future rate hikes will depend on whether and how quickly inflation starts to decline, something the Fed will assess on a meeting by meeting basis. Its decision-making will be based on the incoming data and the evolving outlook for the economy, Powell said in prepared testimony to the Senate Banking Committee, which he is addressing as part of the Fed’s semiannual policy report to Congress.

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