Global Market Update: Even after assurances from the Fed chief that no decision has been made on the size of the rate hike in March and the central bank does not want to cause a recession, the US equity market sounded cautious on Wednesday. The US dollar was steady on the day but edged below the three-month high hit on Wednesday, while the SGX Nifty opened sideways today, indicating a sluggish start on Dalal Street on Thursday.
Here we list down important global market triggers that may guide indian stock market Today:
american stock market
On Wall Street, the Dow Jones Industrial Average was up 0.18 per cent, the S&P 500 was up 0.14 per cent and tech heavyweight Nasdaq was up 0.40 per cent on Wednesday.
“Jerome Powell’s testimony to US lawmakers bolstered the bet that the Federal Reserve will have no choice but to remain accommodative in the coming months, especially as another round of jobs heats up. One of the For this, Powell reiterated that officials are likely to take rates higher than previously anticipated, and could move at a faster pace if necessary. Again, concerns are rising ahead of the next economic readings. Will check Friday’s jobs report for indicators: payrolls, wage gains and unemployment ratesaid Marc Despalières, chief strategy and business officer at Vantage.
Asian market
In Thursday morning deals, Japanese Nikkei was down 0.62 per cent, South Korean KOSPI 0.10 per cent, Shanghai index down 0.08 per cent while Hong Kong’s Hang Seng was down 0.36 per cent.
sgx nifty
In the early morning session on Thursday, SGX Nifty opened flat but in the positive zone. sgx smelly Today opened with a decline at 17,785. But, the index soon picked up momentum and touched its all-time high of 17,825.
Flats expected to open on Dalal Street, Anuj Gupta, Vice President – Research at IIFL Securities Said, “SGX Nifty has recovered from its support levels placed at 17,550 and 17,680 levels. One should maintain buying on dips as momentum reading indicates strong support for the index at 17,680 levels.”
us dollar price
In the morning session, the US dollar remained above the 105 level and rose 0.01 per cent to 105.672.
“The US dollar was steady on the day, but Federal Reserve Chairman Jerome Powell offered no major surprises on his second day of testimony before Congress and investors await Friday’s jobs data, followed by a three-month high on Wednesday.” level down.” Despalieres said.
gold rates today
Gold was little changed on Wednesday with a daily gain of 0.02% amid concerns from the Federal Reserve (Fed) and a strong bearish bias due to the looming recession. XAUUSD climbed above the $1820 mark during the early US trading session, but then lost the bullish momentum and fell back around the $1814 area.
crude oil price
In the morning session, crude oil prices rose by 0.21 per cent to trade at $76.60 per barrel. Crude oil price today opened at $76.46 per barrel and touched a high of $76.68 per barrel.
US bond yield
In early session on Thursday, the US 10-year bond yield rose 0.09 per cent to 3.980, while the US 30-year bond yield edged up 0.25 per cent to 3.887.
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