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Stock Market Live: SGX Nifty down over 100 points; Asia-Pacific trade mixed

By Kemal Pasha

Domestic markets are likely to open lower on Wednesday, as global sentiments turn weak post hawkish commentary by the US Federal Reserve. As of 8:15 am, the SGX Nifty indicated a gap-down start at 17,716 levels, down over 100 points.


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Domestic markets are likely to open lower on Wednesday, as global sentiments turn weak post hawkish commentary by the US Federal Reserve. As of 8:15 am, the SGX Nifty indicated a gap-down start at 17,716 levels, down over 100 points.

Globally, the US markets were hammered overnight after the US Fed Chief remained firm on monetary policy tightening course until core inflation is down to its 2 per cent target. Key indices – Dow Jones, the S&P 500, and NASDAQ Composite declined up to 1.7 per cent.


Besides, the US dollar index, which measures the dollar against a basket of six major currencies, jumped 1.3 per cent to a three-month peak of 105.65.

Asia-Pacific markets, meanwhile, were mixed this morning as traders anticipated a larger rate hike at the next policy meeting. 

Back home, shares of Dr Reddy’s will be in focus after the pharma giant recalled over 4,000 bottles of Tacrolimus Capsules in the US due to a packaging error.

Besides, shares of Adani Power will be tracked after the company amalgamated six wholly-owned subsidiary companies, including Adani Power (Mundra), with itself.

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Kemal Pasha