Stock Market Today: Fed hike in offing? SGX remains flat as US and Asia fall; all eyes on Adani's recovery

Stock Market Today: Trends on the SGX Nifty point to a flat start for India's broader index, with a gain of 2.50 points. On the Singapore Exchange, the Nifty futures were trading at around 17,892.50.

Wall Street falls

US stocks finished lower on Wednesday, wiping out the majority of the previous session's strong gains, with technology-focused stocks leading the way lower.

Alphabet Inc was the most significant drag on the S&P 500 and Nasdaq. Its stock dropped 7.7% after its new AI chatbot Bard gave the wrong answer in an online advertisement.

The Dow Jones Industrial Average dropped 207.68 points, or 0.61%, to 33,949.01, the S&P 500 dropped 46.14 points, or 1.11%, to 4,117.86, and the Nasdaq Composite fell 203.27 points, or 1.68%, to 11,910.52.

Stock Market Today: Adani Wilmar Q3 Results

Adani Wilmar reported on February 8 that its net profit increased by 16 percent year on year to Rs 246 crore for the October-December quarter 2022, while its consolidated revenue from operations increased by 7 percent year on year to Rs 15,438 crore.

Volumes increased by 16 percent to 1.47 million tonne as a result of the large opportunity in the packaged food industry, according to Adani Wilmar's earnings release. "The quarter also saw macro tailwinds in the form of strong demand from festivities and weddings, gradual recovery in rural markets, and a bumper kharif crop," the report said.

Dollar flat after Fed official comments

The US dollar was little changed on Thursday as investors anticipated next week's US inflation data and digested remarks from a slew of Federal Reserve officials who predicted modest interest rate increases.

The dollar index, which measures the US currency against six rivals, was 0.029% higher at 103.460 on Thursday, after falling nearly 0.3% the previous session.

Stock Market Today: Oil rises for 4th day

Oil rose in early trade on Thursday, extending gains for the fourth day in a row, as crude loading disruptions in Turkey and optimism about China's recovering demand boosted sentiment.

Brent crude futures were up 14 cents, or 0.2%, to $85.26 a barrel by 0239 GMT, while WTI crude futures in the United States were up 11 cents, or 0.2%, to $78.58 a barrel.

Also Read: BMW CE 04: BMW electric scooter showcased in India, could launch soon as the most expensive electric scooter

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