Stock Market Today: The broader Indian index is off to a flat start, according to SGX Nifty trends, with a gain of 4.50 points. On the Singaporean Exchange, the Nifty futures were trading at at the level of 17,152.
Wall Street ends green on bank bounce as Fed takes focus
Wall Street closed sharply higher on Tuesday as market participants focused on the Federal Reserve, which is anticipated to end its two-day policy meeting on Wednesday with a 25 basis-point increase to its policy rate. This came as widespread concerns over liquidity in the banking sector subsided.
When trading came to a close, all three of the major U.S. stock indices were showing strong increases, with energy (.SPNY), consumer discretionary (.SPLRCD), and financials (.SPSY) seeing the biggest gains.
The Nasdaq Composite increased 184.57 points, or 1.58%, to 11,860.11, the S&P 500 increased 51.3 points, or 1.30%, to 4,002.87, and the Dow Jones Industrial Average increased 316.02 points, or 0.98%, to 32,560.6.
Stock Market Today: Oil slips after unexpected build in U.S. crude stocks
After two straight days of increases, oil prices dipped in early Asian trade on Wednesday after a report from the industry revealed that U.S. crude inventories unexpectedly increased last week, a hint that fuel demand may be waning.
At 0203 GMT, Brent futures, which had increased by more than 3% this week, were down 48 cents, or 0.6%, at $74.84 per barrel. The price of West Texas Intermediate (WTI) oil futures in the United States fell by 47 cents, or 0.7%, to $69.20.
Tata Motors to raise commercial vehicles prices ahead of BS6 Phase II emission norms
Tata Motors will be implementing a price increase of up to 5% on its commercial vehicles starting from April 1st, 2023. The decision to increase prices is a result of the company’s efforts to comply with the more stringent BS6 phase II emission norms.
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