The benchmark indices may witness a flat to negative start on Wednesday as indicated by global cues.Nifty futures were ruling 53 points or 0.33 per cent down at 16,216 on Singaporean Exchange.
On Tuesday, the indices finished sharply higher after tracking positive trends in the Asia market. The BSE Sensex ended 1344.63 points or 2.5 per cent up at 54,318, while NSE Nifty 50 settled at 16,259.
Asian stock markets were trading mixed in early trade. US Federal Reserve Chairman Jerome Powell said he will back interest rate increases till prices begin falling back toward a healthy level.
Powell says Fed will ‘keep pushing’ until inflation comes down
US Federal Reserve Chairman Jerome Powell said he will back interest rate increases till prices begin falling back toward a healthy level
“What we need to see is inflation coming down in a clear and convincing way, and we’re going to keep pushing until we see that," Powell said Tuesday during a Wall Street Journal live event. “If that involves moving past broadly understood levels of ‘neutral,’ we won’t hesitate at all to do that."
US stock
In overnight trade on Wall Street, the S&P 500 jumped 2.02 per cent while the tech-heavy Nasdaq Composite surged 2.76 per cent. The Dow Jones Industrial Average gained 1.34 per cent.
Asian stocks
Asian stock markets were trading mixed in early trade. Japan’s Nikkei rose 0.58 per cent, while the Topix index traded 0.64 per cent higher.
