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Pre-open session: Sensex climbs 300 points, Nifty above 18,250
Third quarter results today
MindTree, CESC, GPTL Hathway, Tata Metaliks, Mishtann Foods, Plastiblend India, Aditya Birla Money, Surana Solar, Mega Corporation, Palm Jewels and Gautam Gems are among the companies to announce their December quarter results today.
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 117.50 points, or 0.65%, at 18,333.50, signaling Dalal Street was heading for a positive start on Thursday.
Tech View: Nifty vulnerable to profit taking
Nifty50 rose on Wednesday for the fourth day in a row and in doing so, cleared its immediate resistance of 18,200. The overall index formed a bullish candle on the daily chart, but the size of the candle body was smaller than when of the last two sessions. At the close, the 14-day RSI was close to the overbought zone. Profit booking cannot be ruled out, analysts said.
Hong Kong stocks start with gains
Hong Kong shares rose again at the open on Thursday, building on a healthy advance this week, following a strong lead from Wall Street as US inflation data suggested prices could stabilize. The Hang Seng Index added 0.65%, or 159.31 points, to 24,561.48. The Shanghai Composite Index edged up 0.10%, or 3.59 points, to 3,601.03.
Tokyo stocks open lower despite US gains
Shares in Tokyo opened lower on Thursday after surging the day before, despite gains on Wall Street following data showing another spike in consumer prices. The benchmark Nikkei fell 0.37%, or 107.44 points, to 28,658.22 at the open, while the broader Topix index fell 0.27%, or 5.38 points, at 2,013.98.
Wall Street closes higher as inflation data supports Fed bets
U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest level in decades, it largely met economists’ expectations, easing some fears that the Federal Reserve may have to withdraw further support more vigorously than expected. The Dow Jones rose 0.11% to 36,290.32, the S&P500 gained 0.28% to 4,726.35 and the Nasdaq Composite 0.23% to 15,188.39.
The rupee ends almost flat at 73.93 against the dollar
The rupee edged up just 1 paisa to close at 73.93 against the US dollar on Wednesday as high crude oil prices offset the impact of a weak US currency and positive domestic equities. Forex traders said less hawkish than expected testimony from Federal Reserve Chairman Jerome Powell eased fears of aggressive Fed policy tightening and supported emerging market currencies.
Sensex, Nifty on Wednesday
The ESB Sensex gauge jumped more than 500 points to retake the key level of 61,000 on Wednesday as participants pinned their hopes on robust quarterly corporate results. Extending its winning run for the fourth consecutive session, the 30-stock Sensex settled 533.15 points or 0.88% higher at 61,150.04. Intraday, the index touched its highest level at 61,218.19. Nifty climbed 156.60 points or 0.87% to end at 18,212.35.