The Indian equity benchmarks are likely to open higher on Wednesday as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 0.43 per cent or 74 points to 17,013 despite weak global cues.
Asian Markets
Most of the Asian markets were trading lower with Japan's Nikkei down 0.14 per cent, Hong Kong's Hang Seng dropped 2 per cent, Taiwan Weighted fell 0.15 per cent and South Korea's KOSPI declined 0.2 per cent
US Markets
Another volatile run on Wall Street left stocks lower Tuesday, extending the market’s recent losses as traders brace for updates on inflation and corporate earnings.
The S&P 500 fell 0.7%, marking its fifth straight loss. The benchmark index had been down as much as 1.2% in the early going after a dour forecast from the International Monetary Fund stoked recession fears. It then gained as much as 0.8% before a late-afternoon reversal.
The Nasdaq composite also slid back into the red, ending 1.1% lower. The Dow Jones Industrial Average shed most of a 1.2% gain to finish 0.1% higher.
The major indexes came into the day with four straight losses. Recession fears have been weighing heavily on markets as stubbornly hot inflation burns businesses and consumers. Economic growth has been slowing as consumers temper spending and the Federal Reserve and other central banks raise interest rates.
Gold and Crude Oil Price Check
Benchmark U.S. crude oil for November delivery fell $1.78 to $89.35 a barrel Tuesday. Brent crude for December delivery fell $1.90 to $94.29 a barrel.
Gold for December delivery rose $10.80 to $1,686 an ounce. Silver for December delivery fell 12 cents to $19.49 an ounce and December copper rose 3 cents to $3.46 a pound.
The dollar rose to 145.85 Japanese yen from 145.73 yen. The euro fell to 97.06 cents from 97.07 cents.
Foreign Flows
Foreign institutional investors sold shares worth Rs 4,612 crore on Tuesday while domestic institutional investors bought shares worth Rs 2,431 crore.
Interglobe Aviation: No-frills airline IndiGo on Tuesday said it will connect the city with Istanbul in Turkey from early next year.
The non-stop air services on the new route, which will commence from January 1, will be operated daily. Bookings for these flights began from Tuesday, the airline said in a statement.
TCS: As major central banks work towards roll-outs of digital currencies, India's largest software exporter TCS on Tuesday announced a solution which will aid in their roll-outs and usage.
The Tata Group company has enhanced its blockchain solutions platform Quartz to enable central and commercial banks to support the entire lifecycle of Central Bank Digital Currency (CBDC) issuance, book-keeping and transactions.
Adani Enterprises: Adani Enterprises has given on lease 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google, for Rs 11 crore monthly rent, according to documents accessed by CRE Matrix.
The documents, accessed by the data analytics firm, showed that D C Development Noida Ltd, which is part of Adani Enterprises Ltd, has leased 4,64,460 square feet of space at Adani data centre in Sector-62, Noida for a period of 10 years.
