Stock Market Today: Indications on the SGX Nifty suggest to a flat start for India’s wider market, with a loss of 39.50 points or 0.23 percent. On the Singapore Exchange, the Nifty futures were trading around 17,046.50.
Wall Street ends higher as Janet Yellen vows actions to safeguard deposits
Wall Street closed higher on Thursday, with market participants reassured by U.S. Treasury Secretary Janet Yellen’s assurances that steps will be taken to protect Americans’ deposits.
The Dow Jones Industrial Average increased by 75.14 points, or 0.23%, to 32,105.25, the S&P 500 increased by 11.75 points, or 0.30%, to 3,948.72, and the Nasdaq Composite increased by 117.44 points, or 1.01%, to 11,787.40.
Bank of England hikes rates by 25 bps
Despite a surprising increase in price increases published on Wednesday, the Bank of England lifted interest rates by a quarter percentage point on Thursday, saying it expects the surge in British inflation to moderate faster than before.
The Bank of England’s nine rate-setters voted 7-2 in favour of a 25 basis-point hike in Bank Rate to 4.25%, sounding more optimistic about the country’s modest pace of economic growth.
Stock Market Today: FII and DII data
On March 23, foreign institutional investors (FII) net sold shares worth Rs 995.01 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,668.85 crore, according to provisional data from the National Stock Exchange.
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