A positive start is on cards for the Indian equity markets after the US Federal Reserve hiked interest rates by 75 basis points (bps) – in-line with Street expectations. At 8:00 AM, the SGX Nifty Futures quoted at 16,761 levels, indicating an upside of 120-odd points on the Nifty50.
Globally, the US Fed rate action for the second straight month triggered a sharp rally in the US markets as tech-heavy NASDAQ Composite logged biggest single-day gain since April 2020, rising up to 4.06 per cent in trade on Wednesday. Dow Jones, meanwhile, climbed 1.3 per cent, whereas the S&P 500 advanced 2.6 per cent.
However, major markets in Asia-Pacific traded mixed on Thursday morning. Japan’s Nikkei 225 inched lower at 0.1 per cent, while South Korea’s Kospi gained 0.6 per cent.
That apart, prices of crude oil were on the boil on supply worries. Brent Crude hovered at $108 per barrel and WTI Crude was at $98 per barrel.
Back home, a slew of companies will report their June quarter results (Q1FY23) on Thursday, July 28 – Dr Reddy’s, Nestle India, Bajaj Finserv, and Vedanta. Besides, Hindustan Aeronautics (HAL) inked $100 million deal with Honeywell for HTT-40 engines.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
CATCH ALL THE LIVE UPDATES