The market is expected to open in the green as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 92 points on Wednesday.
The benchmark indices hit a fresh five-month closing low on Tuesday
with the BSE Sensex down 338 points to 57,900 and the Nifty50 shedding 111 points to 17,043, forming a bearish candlestick pattern on the daily charts.
As per the pivot charts, the Nifty has support at 16,994, followed by 16,938 and 16,847. If the index moves up
the key resistance levels to watch out for are 17,176, followed by 17,232 and 17,323.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today
We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled
expectations regarding the size of the rate hike at the Federal Reserve's policy meeting next week.
The Dow Jones Industrial Average rose 336.26 points, or 1.06 percent, to 32,155.4,
the S&P 500 gained 64.8 points, or 1.68 percent, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14 percent, to 11,428.15.
Asia-Pacific markets were largely higher on Wednesday following a slightly cooler US inflation report and as the fallout in the banking sector seemed to be
In Australia, the S&P/ASX 200 gained 0.78 percent as bank stocks rallied early in the trading day. In Japan, the Nikkei 225 opened 0.52 percent higher,
while the Topix climbed 1.17 percent. South Korea’s Kospi also saw sharp rallies, opening 1.36 percent higher.
Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 92 points. The Nifty futures were trading around 17,203 levels on the Singaporean exchange.
Gold prices eased on Tuesday, pausing their sharp rally driven by the US banking crisis, as the dollar rebounded.
Spot gold was down 0.5 percent at $1,903.20 per ounce. US gold futures also fell 0.5 percent to $1,906.90.
Foreign institutional investors (FII) sold shares worth Rs 3,086.96 crore, whereas domestic institutional investors (DII) bought shares worth Rs 2,121.94 crore on March 14, the National Stock Exchange's provisional data showed.
Oil prices dropped over 4 percent to a three-month low on Tuesday after a US inflation report and the recent US bank
failures sparked fears of a fresh financial crisis that could reduce future oil demand.
The National Stock Exchange has added Indiabulls Housing Finance, and retained GNFC in its F&O ban list for March 15. Securities banned
under the F&O segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit.
Bitcoin hit a nine-month high on Tuesday, taking gains past 30 percent in four days as it shrugged off chaos in global markets after
last week's collapse of Silicon Valley Bank and rode expectations that US interest rates won't rise so fast.
Bitcoin jumped as much as 9.6 percent to $26,533, its highest since June 2022, in its fourth straight days of gains.