Stock Market Today: Nifty futures on the Singapore Exchange traded 118 points, or 0.66 percent, higher at 17,870, indicating that Dalal Street was set to start the day positively.
On the daily time frame, Nifty formed a small-bodied bearish candle with a longer lower shadow ahead of Finance Minister Nirmala Sitharaman’s Budget presentation and the outcome of the US Fed meeting. Support-based buying was observed at lower levels, but the trend is under pressure at higher levels, according to chart readers.
Oil rises as U.S. recession fears ease and dollar slips
Oil prices rose on Wednesday, supported by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world’s largest oil user will enter a recession as interest rates rise further. Brent crude futures rose 20 cents, or 0.2%, to $85.66 a barrel at 0128 GMT, while WTI crude futures in the United States rose 34 cents, or 0.4%, to $79.21 a barrel, extending gains of about 1% in the previous session.
Stock Market Today: Tokyo markets open higher
Tokyo stocks opened higher on Wednesday, following Wall Street rallies in which US employment data helped alleviate concerns about wage inflation. In early trade, the Nikkei 225 index was up 0.77 percent, or 210.57 points, at 27,537.68, while the broader Topix index was up 0.67 percent, or 13.26 points, at 1,988.53.
Stock Market Today: Wall Street gains
The major U.S. stock indexes closed more than 1% higher on Tuesday, as labour cost data reassured investors about the Federal Reserve’s aggressive approach to taming inflation a day before the central bank’s key policy decision.
Rupee falls 36 paise to a 3-week low against USD ahead of Budget, Fed decision
On Tuesday, the rupee fell 36 paise to a three-week low of 81.88 against the US dollar after the Economic Survey 2022-23 said the domestic currency may remain under pressure due to a plateauing of exports and a subsequent widening of the current account deficit.
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