Watch this space as we bring you LIVE updates of the day’s proceedings from Dalal Street.
!1 New UpdateClick here for latest updates
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 22.5 points, or 0.13 per cent, lower at 17,796.50, signaling that Dalal Street was headed for a negative start on Wednesday.
Tech View: Nifty50 eyes record high levels
Nifty50 on Tuesday closed above the 17,800 level and formed a long bullish candle on the daily chart. Analysts said the index is in a recovery mode and can revisit its all-time high levels in the coming days. The 17,840 and 17,950 levels would pose resistance to the index, analysts said.
Hong Kong stocks begin with gains
Hong Kong shares opened on a positive note Wednesday morning following a strong lead from Wall Street, while investors continue to keep a troubled eye on developments in the China Evergrande crisis. The Hang Seng Index added 0.64 percent, or 155.05 points, to 24,259.20. Mainland Chinese markets were closed for a holiday.
Japan shares open higher
Nikkei index opened higher Wednesday as investors rushed to buy back after a sell-off in the previous session and following a rebound on Wall Street. The Nikkei 225 index rose 0.72 percent, or 200.81 points, to 28,022.93, while the broader Topix index advanced 0.76 percent, or 14.78 points, to 1,962.53.
US stocks settled higher
Technology companies and banks led stocks higher on Wall Street Tuesday, erasing most of the market’s losses from a broad sell-off a day earlier. The rally, which lost some momentum in the final hour of trading, left the S&P500 1.1 per cent higher. The S&P500 index rose 45.26 points to 4,345.72. The Dow Jones Industrial Average added 311.75 points, or 0.9 per cent, to 34,314.67, and the Nasdaq gained 178.35 points to 14,433.83.
Moody’s upgrades outlook on India to stable
Ratings agency Moody’s Investors Service on Tuesday upgraded its outlook on India to stable from negative, saying downside risks in Asia’s third largest economy and its financial institutions have reduced. Moody’s affirmed India’s sovereign credit rating at Baa3. “The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy and financial system are receding,” the agency said in a note.
Rupee slips 13 paise to 74.44 against dollar
The rupee fell 13 paise to hit its weakest closing in nearly eight weeks at 74.44 against the US dollar on Tuesday, weighed down by the strengthening of the greenback in the overseas market and rising crude oil prices. At the interbank foreign exchange market, the local currency opened on a weak note and witnessed an intra-day high of 74.41 and a low of 74.63 against the US dollar in day trade. The local unit finally settled at 74.44 a dollar, down 13 paise over its previous close.
Sensex, Nifty on Tuesday
The Sensex and Nifty defied gravity for the second straight session on Tuesday as energy, IT and banking counters witnessed brisk buying amid mixed global cues. The 30-share BSE Sensex opened weak but gained momentum in afternoon trade to finish at 59,744.88, up 445.56 points or 0.75 per cent. On similar lines, the broader NSE Nifty surged 131.05 points or 0.74 per cent to close at 17,822.30.