Stock Market Today: As markets were forced to reflect ever-higher peak levels for U.S. and European interest rates, bonds around the world suffered and the dollar hit multi-week highs. As a result, Asian shares fell on Monday.
The Singapore Exchange’s Nifty futures traded 38.5 points, or 0.22 percent, lower at 17,504, indicating Dalal Street would have a bad start to the week.
Nifty forms a long bear candle
On the daily chart of Nifty, a long bear candle formed, signalling the continuation of the downtrend. According to Nagaraj Shetti, Technical Research Analyst at HDFC Securities, negative chart patterns like lower tops and bottoms were formed on the weekly chart, and Nifty is currently on its way down to form a new lower bottom of the sequence (below 17,353).
Stock Market Today: Tokyo shares open lower
As international investors renewed their speculation that the Fed might increase its rate hikes after the most recent US inflation data came in higher than anticipated, Tokyo shares opened lower on Monday. Early trading saw a 0.34 percent, or 94.59 points, decline in the benchmark Nikkei 225 index to 27,358.89, while a 0.17 percent, or 3.32 points, decline was seen in the larger Topix index to 1,985.08.
Rupee falls 11 paise to close at 82.75 against US dollar
On Friday, the rupee lost 11 paise to end the day at 82.75 against the US dollar as weak investor sentiment and the strength of the US dollar in foreign exchange markets combined.
Stock Market Today: Wall Street ends sharply down
After suffering significant losses on Friday, Wall Street’s major indexes experienced their biggest weekly decline of 2023 as investors prepared for the possibility of more aggressive rate hikes from the U.S. Federal Reserve in light of the country’s resilient consumer market.
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