Updated : June 17, 2021 07:59 AM IST
The Indian market may open on a subdued note on Thursday amid negative global cues after the US Federal Reserve on Wednesday moved up its timeline for rate hikes. The SGX Nifty was trading 26 points or 0.17 percent lower at 15,676, at 7:35 am.
1. Wall Street: Stocks fell on Wall Street and bond yields rose Wednesday after Federal Reserve officials signaled they may start easing off the accelerator on their massive support for markets and the economy earlier than previously thought. The S&P 500 fell 0.5 percent, the Dow Jones Industrial Average fell 0.8 percent and the Nasdaq lost 0.2 percent.
2. Asian stocks: Shares in Asia-Pacific dipped in Thursday morning trade, as investors watch for market reaction after the US Federal Reserve on Wednesday moved up its timeline for rate hikes. In Japan, the Nikkei 225 shed 0.33 percent. South Korea’s Kospi declined 0.62 percent. The S&P/ASX 200 in Australia fell 0.14 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.54 percent lower.
3. D-Street: The Indian market ended lower on Wednesday after hitting record highs in the previous session as investors eyed the US Federal Reserve’s policy statement. Indices were weighed by losses in metals, financials and heavyweight RIL. The Sensex ended 271 points lower at 52,502 and the Nifty fell 102 points to settle at 15,767.
4. Crude oil: Crude oil prices fell on Thursday pressured by a stronger US dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world’s top oil consumer. Brent crude oil futures dropped 1 percent to $73.65 a barrel by 0103 GMT after reaching its highest since April 2019 in the previous session. US crude oil futures fell by 1 percent to $71.46 a barrel, after reaching its highest since October 2018 the previous day.
5. Rupee: Extending its losses for seventh straight session, the rupee slipped by 1 paisa to end at 73.32 against the US dollar following risk-off sentiment among investors. At the interbank foreign exchange market, the rupee opened at 73.29 per dollar as against its previous close of 73.31. It hovered in the range of 73.26 to 73.38 during the day.
6. Gold: Gold on Wednesday dipped marginally by Rs 48 to Rs 47,814 per 10 gram amid muted global trends. In contrast, silver rose by Rs 340 to Rs 70,589 per kg. In the international market, Gold prices slipped over 1 percent on Wednesday after US Fed brought forward projections for the first post-pandemic interest rate hikes into 2023.
7. Bitcoin: At 7:20 am IST, Bitcoin and Ether were both down nearly 4 percent to trade at $38,647 and $2,409, respectively.
Published : June 17, 2021 07:59 AM IST