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HomeCURRENT AFFAIRSBUSINESSStock Market Today: SGX Nifty indicates bearish start, Asian shares trading lower

Stock Market Today: SGX Nifty indicates bearish start, Asian shares trading lower

Stock Market Today: The blue-chip Nifty index dropped to 18,285 while the benchmark 30-share BSE Sensex dropped 208 points, or 0.34%, to end at 61,773. High-weightage financial and metal sectors contributed to the decline in the blue-chip Nifty index.

Oil prices fall on US debt uncertainty

Early Thursday morning Asian trade saw a decline in oil prices as concerns over whether the US will escape a financial default outweighed the potential for more production cutbacks from OPEC+.By 00:42 GMT, Brent crude futures had dropped 5 cents, or 0.1%, to $78.31 per barrel. West Texas Intermediate (WTI) crude for the United States dropped 16 cents, or 0.2%, to $74.18.

Nifty stuck between 18,200-18,400

Headline index Nifty today formed a long pin bar with higher upper shadow on the daily charts, which was largely negative. Now it has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones, said Chandan Taparia of Motilal Oswal.

Stock Market Today: Tokyo stocks drift lower at open

Investors worried about the lack of movement in US debt ceiling talks despite an approaching deadline caused a little decline in Tokyo stocks at the opening of trading on Thursday.Early trading saw a 0.10 percent, or 31.03 points, drop in the benchmark Nikkei 225 index to 30,651.65, while the larger Topix index dropped 0.45 percent, or 9.77 points, to 2,142.63.

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