Stock Market Today: Indices to start the day cautiously; SGX Nifty trades unchanged

Stock Market Today: A day after experiencing one of the worst drops of the year due to concerns about interest rates, stocks stabilised on Wall Street on Wednesday and ended with a mixed performance.

To reach 3,992.01 the S&P 500 gained 5.64 points, or 0.1%. The Nasdaq composite rose 45.67, or 0.4%, to 11,576.00, while the Dow Jones Industrial Average dropped 58.06, or 0.2%, to 32,798.40.

Gautam Adani rout puts spotlight on billions flowing through Mauritius

The tiny island of Mauritius has worked hard for years to shed its reputation as a hub for shady money launderers and shell companies. Questions about the nation's function as a tax haven for India's tycoons are once more being raised in light of the short-seller allegations against billionaire Gautam Adani.

According to a report released by Hindenburg Research in late January, entities controlled by the tycoon's brother Vinod or his associates used Mauritius as a conduit for money laundering and share-price manipulation. This sent Adani stocks on a $153 billion downward spiral. The report identified offshore companies in Mauritius as having played a crucial role, despite mentioning a "vast labyrinth" of shell companies from the Caribbean to the United Arab Emirates.

Govt imposes money laundering provisions on crypto sector

The latest step taken by the Indian government to tighten control over digital assets is the imposition of anti-money laundering regulations on the cryptocurrency industry.

The Finance Ministry announced in a notice on Tuesday that cryptocurrency trading, storage, and related financial services are now subject to anti-money laundering laws.

Stock Market Today: Global market

Even after the Fed chairman gave assurances that no decision had been made regarding the size of a rate increase in March and that the central bank was not attempting to spark a recession, the US equity market swung back and forth on Wednesday. While the SGX Nifty today opened sideways, indicating a sluggish opening on Dalal Street, the US dollar was steady for the day but down from three-month highs reached earlier on Wednesday.

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