Stock Market Live Updates: SGX Nifty signals a gap-down start; Asian stocks trade lower

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Asian stocks jilted as central banks promise tough love

Asian shares slid on Monday as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields higher and tested equity and earnings valuations.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 362 points, or 2.05 per cent, lower at 17,297, signaling that Dalal Street was headed for a gap-down start on Monday.

Quarterly earnings today

Procter & Gamble Health, Sindhu Trade Links, Indosolar and Mackinnon Mackenzie & Company are among companies that will announce their quarterly earnings today.

Tech View: Nifty50 forms small bearish candle; resistance seen at 17,720-725 levels

Nifty50 on Friday settled higher but formed a small bearish candle on the daily chart. On the weekly chart, the index formed a bearish candle with a long lower wick. Analysts said that the index may face resistance near 17,720-725 level while they saw 17,400 to act as a strong support going ahead.

Oil mixed as OPEC supply cut prospect offsets demand fears

Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell saying the United States will face slow growth “for some time”.

Tokyo shares open lower after Fed pledge to hike rates

Tokyo stocks opened lower Monday after US Federal Reserve Chair Jerome Powell declared his commitment to rate hikes to fight inflation. The benchmark Nikkei 225 index tumbled 1.69 percent, or 484.75 points, to 28,156.63, while the broader Topix index slipped 1.62 percent, or 31.59 points, to 1,948.00.

Wall Street ends in a hole after Powell’s Wyoming speech

Wall Street ended Friday with all three benchmarks more than 3% lower, as Federal Reserve Chief Jerome Powell’s signal that the central bank would keep hiking rates to tame inflation nixed nascent hopes for a more modest path among some investors.

Rupee rises by 8 paise to 79.84 on weak dollar

The rupee appreciated by 8 paise to close at 79.84 against the US dollar on Friday, supported by a weak dollar in the overseas markets and a positive trend in domestic equities.

Sensex, Nifty on Friday

The 30-share Sensex advanced 59.15 points to end at 58,833.87. Its broader peer, Nifty50, ended the session comfortably above the 17,500 mark.

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