SGX Nifty rises 150 points; here's what changed for markets while you were sleeping

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After a steep fall in the previous session, the Indian equity market was set for a gap-up start on Thursday, tracking strong global sentiments. US stocks rallied sharply after the Fed downplayed the aggression in rate hikes, whereas Asian stocks were trading with strong gains. Back home, LIC's mega IPO will be keenly watched on its second day of subscription. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals positive startNifty futures on the Singapore Exchange traded 150 points, or 0.90 per cent, higher at 16,839, signaling that Dalal Street was headed for a positive start on Thursday.

  • Tech View: Nifty50 on Wednesday slipped below its 50-day simple moving average (SMA) at open after falling below the 200-day simple SMA the previous session. The index breached strong support, which was present at the lower end of the 16,700-17,300 range and ended up forming a long bearish candle on the daily chart.
  • India VIX: The fear gauge spiked as much as 8 per cent to 21.88 level on Wednesday over its close at 20.28 on Monday.

Asian shares trade higherMajor Asian stocks started Thursday with a healthy advance after the Federal Reserve lifted interest rates but played down any chance of a huge 75 basis-point lift in the near future. MSCI's index of Asia-Pacific shares outside Japan was up by 1.08 per cent.

  • Japan's Nikkei dropped 0.06%
  • Australia's ASX 200 gained 0.56%
  • South Korea's Kospi jumped 0.08%
  • New Zealand's DJ surged 0.61%
  • China's Shanghai added 0.37%
  • Hong Kong's Hang Seng rallied 1.39%

US stocks end higherMajor US indices closed sharply higher on Wednesday after the Federal Reserve raised its benchmark overnight interest rate by half a percentage point and said it would begin trimming its bond holdings next month as a further step in the battle to lower inflation.

  • Dow Jones gained 2.81% to 34,061.06
  • S&P 500 jumped 2.99% to 4,300.17
  • Nasdaq rallied 3.19% to 12,964.86

Dollar recoils over Fed's hawkish betsThe dollar was nursing its sharpest fall in more than a month on Thursday after the US Federal Reserve raised its benchm...

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