MARKET LIVE: SGX Nifty indicates a negative start for benchmark indices

LIVE market updates: After logging solid gains for two straight sessions, the Indian benchmark indices look poised to open in the red on the last trading day of the financial year 2020-21 (FY21).

Investors will continue to track Covid-related newsflow. According to Worldometer, India has recorded 53,158 cases in the last 24 hours. Besides, market participants will also keep an eye on the Rupee’s trajectory, oil price movement, and stock-specific developments.

Global cues

Wall Street ended lower as yields weighed on tech shares, financial stocks rose, their gains helped by signs the fallout from the Archegos meltdown would be relatively contained. The Dow Jones fell 0.31 per cent, the S&P 500 lost 0.32 per cent and the Nasdaq dropped 0.11 per cent.

Asian stocks were mixed on Wednesday, as global financial shares retraced some of their recent losses, driven in part by higher bond yields.

In early Asian trade, Australian ASX 200 surged 1.7 per cent while Hong Kong’s Hang Seng index was up 0.3 per cent. Meanwhile, Japan’s Nikkei fell 0.7 per cent.

The dollar rose against major currencies on the increasing distribution of US vaccines and President Joe Biden’s plans to spend up to $4 trillion on infrastructure.

In commodities, Brent crude fell 1.3 per cent, to settle at $64.14 a barrel while Gold prices slipped nearly 2 per cent on Tuesday.

(with inputs from Reuters)


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