Stock Market Today: Trends on the SGX Nifty point to a positive start for India’s broader index, with a gain of 59 points, or 0.34 percent. On the Singapore Exchange, the Nifty futures were trading around the 17,616 level.
S&P ends down as Fed minutes fail to halt losing run
The S&P 500 extended its losing streak to four sessions on Wednesday, with investors cautious despite the Federal Reserve’s latest rate policy guidance showing few surprises.
According to the minutes of the Federal Reserve’s Jan. 31-Feb. 1 meeting, “almost all” Fed officials agreed to slow the pace of interest rate increases to a quarter percentage point.
The Dow dropped 84.5 points, or 0.26%, to 33,045.09, the S&P dropped 6.29 points, or 0.16%, to 3,991.05, and the Nasdaq rose 14.77 points, or 0.13%, to 11,507.07.
Stock Market Today: Oil prices Edge high
Oil prices rose slightly in thin Asian trade on Thursday, breaking a six-day losing streak fueled by mounting fears that more aggressive interest rate hikes by central banks will crimp economic growth and fuel demand.
By 0110 GMT, Brent crude futures had risen 2 cents to USD 80.62 per barrel. WTI crude futures rose 9 cents, or 0.1%, to USD 74.04 per barrel.
FDI equity inflows decline 15% in April-December FY23
According to the most recent Department for Promotion of Industry and Internal Trade data, foreign direct investment (FDI) into India fell 15% to $36.75 billion from April to December this fiscal year. FDI inflows totaled $43.17 billion during the same period the previous year.
Total FDI inflows, which include equity inflows, re-invested earnings, and other capital, fell to $55.27 billion in the first nine months of the current fiscal year, down from $60.4 billion the previous year.
Bank of Korea pauses after 1-year run of interest rate rises
South Korea’s central bank held interest rates steady on Thursday, matching market expectations and ending a year-long streak of increases. The Bank of Korea’s monetary policy board maintained its policy interest rate at 3.50 percent, as predicted by 42 economists polled by Reuters.
The central bank also reduced its projections for this year’s economic growth and inflation to 1.6 percent and 3.5 percent, respectively, from 1.7 percent and 3.6 percent in November.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
