Stock Market News - Gap-down opening on cards for Indian indices as global markets Fall

 

Benchmark equity indices are likely to open lower on Wednesday. The SGX Nifty was trading 0.90% lower at 08:38 AM. 

On Tuesday, the Sensex added 776.72 points, or 1.37%, to close at 57,356.61, while Nifty50 jumped 246.85 points to end at 17,200.80.

Indian indices are likely to witness a negative start on Wednesday. 

Dalal Street rebounded sharply on Tuesday after tracking gains in the US and Asian indices. 

The Wall Street indices, however, suffered losses overnight as mixed corporate earnings, China's Covid situation, and the prospect of aggressive rate hikes by the US Fed suggested a deteriorating economic outlook. 

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US equity futures trembled after the S&P 500 slipped to a six-week low and the technology-heavy Nasdaq 100 declined to levels last seen in 2021. Oil prices also rose after China's central bank pledged support to its economy. 

The Asian investors followed their US counterparts as Wall Street fall dampened risk appetite. Shares retreated in Japan, South Korea, Hong Kong, Shanghai, and Australia in early trade on Wednesday.