Stock Market Live Updates: SGX Nifty signals a negative start; Tokyo stocks open lower

Quarterly earnings today

Coal India, Hindalco Industries, Eicher Motors, Tata Consumer Products, IRCTC, Abbott India, Patanjali Foods, Max Healthcare, Zydus Lifesciences, NHPC, Cummins and SAIL are among companies that will announce their quarterly earnings today.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 38.5 points, or 0.22 per cent, lower at 17,502, signaling that Dalal Street was headed for a negative start on Wednesday.

Tech View: Nifty50 forms a strong bullish candle

The Nifty50 closed in the green for the second consecutive day on Monday to close above its crucial resistance level of 17,500. It formed a strong bullish candle on the daily charts, suggesting demand at lower levels.

Oil prices dip after industry data shows U.S. crude stockpiles rising

Oil prices edged lower on Wednesday, after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast a small 400,000-barrel drop in crude inventories.

Tokyo shares open lower

Tokyo stocks opened lower on Wednesday, following overnight falls of Wall Street tech shares and with key US inflation data to be released later in the day. The benchmark Nikkei 225 index dropped 0.69 percent, or 193.49 points, to 27,806.47 in early trade, while the broader Topix index fell 0.53 percent, or 10.27 points, to 1,926.75.

Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await U.S. inflation data that could lead the Federal Reserve to further tighten its efforts to curb inflation.

Rupee drops 39 paise to 79.63 against US dollar

The rupee depreciated by 39 paise to close at 79.63 against the US currency on Monday, pressured by dollar demand and waning risk appetite among investors.

Sensex, Nifty on Monday

The 30-share pack Sensex advanced 465.14 points or 0.80 per cent to close at 58,853.07. Its broader peer, Nifty50, added 127.60 points or 0.73 per cent to close comfortably above the 17,500 mark. The benchmark has managed to close above 17,500 for the first time since April 12, 2022.

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