Stock Market Live Updates: SGX Nifty drops 140 points; Asian markets slip after US inflation data; all eyes on L&T, Tata Motors Q4 results

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SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 140.50 points, or 0.87 per cent, lower at 16,027, signaling that Dalal Street was headed for a negative start on Thursday.

Tech View: Nifty50 forms Hammer-like candle

Nifty50 on Thursday fell for the fourth straight session and formed a Hammer-like candle on the daily chart that had a long lower wick, reflecting the intraday recovery. Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.Read more at:https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-forms-hammer-like-candle-sends-signs-of-recovery-ahead/articleshow/91494199.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Hong Kong equities tumble at open

Hong Kong stocks opened lower Thursday after drops on Wall Street on renewed fears of surging inflation. The Hang Seng Index tumbled 1.35 percent, or 267.68 points, to 19,566.89. Mainland China’s Shanghai Composite Index dropped 0.45 percent, or 13.90 points, to 3,044.80, while the Shenzhen Composite Index dropped 0.64 percent, or 12.33 points, to 1,906.18.

Tokyo shares drop on inflation fears, Wall Street falls

Tokyo stocks fell in early trade Thursday after overnight drops on Wall Street as investors fret over inflation. The benchmark Nikkei 225 index fell 1.34 percent, or 350.51 points, to 25,863.13 in early trade, while the broader Topix index gave up 0.79 percent, or 14.59 points, to 1,836.56. The dollar stood at 129.58 yen, down from 130.00 yen seen Wednesday in New York.

Oil eases after surging in previous session on Russia sanctions

Oil prices eased in early Asian trade on Thursday, taking a pause after rising more than 5% in the previous session following new Russian sanctions on some European gas companies. Brent crude futures fell 9 cents to $107.42 a barrel by 0013 GMT. WTI crude futures fell 13 cents to $105.58 a barrel. On Wednesday Russia sanctioned 31 companies based in countries that imposed sanctions on Moscow after Russia invaded Ukraine in February.

US stocks slump after inflation data

US stocks ended sharply lower on Wednesday, with the Nasdaq dropping more than 3% and the Dow falling for a fifth straight day after inflation data did little to ease investor worries over the outlook for interest rates and the economy. The Dow Jones Industrial Average fell 326.63 points, or 1.02%, to 31,834.11, the S&P 500 lost 65.87 points, or 1.65%, to 3,935.18 and the Nasdaq Composite dropped 373.44 points, or 3.18%, to 11,364.24.

Rupee extends gains for 2nd day, 9 paise to 77.25

Rising for a second straight day, the rupee rose by 9 paise to settle at 77.25 against the US currency in a range-bound trade on Wednesday as the dollar retreated from its 20-year high levels and bond yields eased to below 3 per cent mark. Suspected RBI intervention in the futures market and most of the currencies trading flat ahead of the release of key US inflation data also supported the rupee

Sensex, Nifty on Wednesday

The Sensex and Nifty spiralled lower for the fourth session on the trot on Wednesday as investors remained on edge ahead of US inflation data, which will give clues on the Federal Reserve’s policy tightening trajectory. Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points or 0.51 per cent. During the day, it tumbled 845.55 points to 53,519.30. Similarly, the NSE Nifty slipped 72.95 points or 0.45 per cent to settle at 16,167.10.

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