Stock Market Update Today: On Friday, Indian stock markets opened weak amid weak global cues. At open, Sensex was down 392.29 points at 51,103.50, while the broader Nifty fell 116.20 points to 15,244.40
Global signals are looking weak for the domestic stock market. There is a mixed reaction in the major Asian markets in today’s trade. At the same time due to the fear of recession, the US markets closed weak. Dow Jones went below the 30 thousand level for the first time since January 2021. Investors fear that the US Fed aggressive approach to control inflation could lead to further recession.
There was a weakness of 2.42 percent or 741.46 points in the Dow and it closed at the level of 29,927.07. The S&P 500 index was down 3.25 percent and closed at 3,666.77. While the Nasdaq fell 4.08 percent and closed at the level of 10,646.10. Nasdaq touched its lowest level since September 2020.
There has been a slight softening in the prices of Brent crude in the international market, but it is trading around $ 119 per barrel. While US crude is close to $ 117 per barrel. The 10-year bond yield in the US is at 3.265 per cent, an 11-year high. Talking about Asian markets, SGX Nifty is up 0.41 percent, Nikkei 225 is showing weakness by 2.33 percent and Strait Times is showing weakness by 0.04 percent. Hangseng is up 0.99 percent, Taiwan Weighted is seeing 0.81 percent and Kospi is seeing 1.16 percent weakness. While the Shanghai Composite is seeing a gain of 0.30 percent.
Shares in Asia-Pacific were lower in Friday morning trade, following sharp declines on Wall Street as investors weigh the possibility of aggressive monetary policy tightening leading to a recession. The Nikkei 225 in Japan fell 2.32% while the Topix index shed 2.25%. South Korea’s Kospi declined 1.17%.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 63 points. The Nifty futures were trading around 15,372 levels on the Singaporean exchange.
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