Stock Market Update: Global signals are looking weak for the domestic stock market. Heavy selling is being seen in major Asian markets in today’s business. On the other hand, after the fall in the US markets on Wednesday, the stock futures are also looking weak. On Wednesday, there was a weakness of 280 points in Dow Jones and it closed at the level of 31,510.43. The S&P 500 index declined 0.8 percent and closed at 3,955.
Whereas Nasdaq had a weakness of 0.6 percent and it closed at the level of 11,816.20. The risk of further rate hike and recession prevailed in the market.
Brent crude also saw a sharp decline due to the possibility of a recession. Crude has come down to $ 95 a barrel in the international market; While US crude is also at $ 89 per barrel.
The 10-year bond yield in the US stands at 3.202 per cent. Talking about the Asian markets, SGX Nifty is down 0.18 percent and Nikkei 225 is down 1.49 percent. 0.04 per cent in Straight Times and 1.03 per cent in Hang Seng. Taiwan weighted 1.77 percent and Kospi 1.74 percent weak. While the Shanghai Composite is down 0.13 per cent.
Biocon said that the USFDA has issued Form 483 with 11 observations for two sites in Bengaluru and six observations for a plant in Malaysia, following inspections of 7 manufacturing facilities of its branch Biocon Biologics.
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