Profit Sheets

D-Street’s Opening Cues Post Fed’s Rate Hike & Hawkish Outlook: SGX Nifty Down

September 22, 2022 09:14 AM

By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.73% or 129.5 points lower at 8:50 am on Thursday amid weak global cues following the Fed’s rate hike and hawkish outlook, indicating a negative opening on Dalal Street.

Further, the slid 0.4% and tanked 0.8%.

Major indices on Wall Street ended a volatile session sharply lower on Wednesday ahead as the US Fed announced another supersized rate hike of 75 bps and reiterated its commitment to fight the decades-high inflation.

Fed’s policymakers also indicated larger rate hikes down the line and rising at a faster pace even though recession fears loom, eradicating any chances of getting inflation under control in the near term.

tanked 1.79%, fell 1.7% and dived 1.71%. 

Stocks across Asian markets followed grim cues from Wall Street’s overnight performance and opened lower on Thursday as investors saw another hefty rate hike by the Fed and a warning of bigger and faster rate hikes going ahead.

At 8:45 am, Japan’s Nikkei fell 1%, South Korea’s Kospi declined 1.03%, China’s slipped marginally, Hong Kong’s plunged 1.8% and Australia’s ASX 200 crashed 1.56%.

The US dollar jumped to a fresh 20-year peak on Thursday, extending gains after the Fed’s 75-bps rate hike for the third consecutive time, striking a more hawkish-than-estimated tone in the meeting. 

traded at $90.3/barrel and WTI Futures at $83.4/barrel at the time of writing. Futures traded flat.

Source link

Leave a comment

Your email address will not be published. Required fields are marked *

NSE Top Gainers/Losers
ITC 253.75 1.83 1,26,68,576
M&M 807.10 1.73 48,32,584
JSWSTEEL 728.65 1.55 42,75,780
TATACONSUM 776.30 1.36 21,46,724
HINDUNILVR 2,043.00 1.34 16,38,568
HINDALCO 569.90 -4.98 1,67,38,310
DIVISLAB 4,431.15 -2.37 3,48,495
APOLLOHOSP 4,525.45 -1.94 8,77,622
RELIANCE 2,634.00 -1.46 33,99,115
CIPLA 1,014.65 -1.39 12,17,592