Sensex Today | Share Market Live Updates : Stocks in Asia were mixed following cautious trading on Wall Street as traders awaited US inflation data that’s set to influence the timing of the Federal Reserve’s pivot to monetary easing.
Japanese shares fell for a second day amid growing speculation the central bank will tweak its policy when it meets next week. Australian and South Korean equities rose.
Japan’s 10-year yield climbed to the highest level in three months following a media report that said policymakers will end negative interest rates this month if wage data comes out strong. Producer price data released early Tuesday beat estimates.
The chance of the BOJ reversing its negative-rate policy will be pretty high if the spring wage negotiations end up with above 4% increase, said Kelvin Tay, chief investment officer at UBS Global Wealth Management in Singapore.
Hong Kong stocks climbed for third day, while state-backed developer China Vanke Co. declined after Moody’s Ratings stripped the company’s investment-grade credit rating and warned of potential further cuts.
Shares of steel-related companies in Asia dropped, following iron ore’s biggest slide since 2022.
US stock futures rose after both the S&P 500 and the Nasdaq 100 closed marginally lower on Monday. Investors are awaiting more clues on whether the recent uptick in US consumer prices was just a blip or an indication the disinflationary trend has hit a roadblock.
US consumer expectations for inflation over the next three years climbed in February, according to a New York Fed survey. Those figures came ahead of data Tuesday that’s forecast to show inflation abated only gradually last month — illustrating why US officials are in no rush to cut interest rates.
Treasuries were little changed after falling on Monday, with traders bracing for another flurry of high-grade corporate debt sales. The dollar slightly weakened against most its Group-of-10 peers.
While the S&P 500 has fallen on just four CPI reporting days in the past 12 months, volatility is picking up in those sessions. Over the past six months, the equity gauge has moved about 0.8% in either direction on the day CPI has been released, according to data compiled by Bloomberg. That’s up from less than 0.5% in September.
Investors are likely already incorporating a lot of good news into stock prices and moving ahead of incoming data that supports the soft-landing narrative.
Oil ticked higher following a three-day drop ahead of a series of market reports and US inflation data. Bitcoin topped $72,000 for the first time, advancing for a sixth day on the back of inflows into US exchange-traded funds.
Elsewhere, Argentina’s central bank unexpectedly cut its benchmark interest rate to 80% from 100%.
Sensex Today Live : What to expect from Indian stock market in trade on March 12
Sensex Today Live : The Indian stock market indices are poised for a cautious start on Tuesday, taking cues from a mixed global scenario. The Gift Nifty trends suggest a slightly positive opening for the Indian benchmark index, trading around 22,445 levels, nearly 30 points higher than the previous close of Nifty futures.
On Monday, domestic equity indices succumbed to weakness and closed lower, influenced by weak global indicators. The Nifty 50 chart formed a long bearish candle, signaling a reversal of the upward trend observed in the previous two sessions.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, pointed out that the current chart pattern on the daily chart indicates a bearish evening star type candle pattern, suggesting a short-term top reversal for the markets. Following the formation of a bullish pattern like the rising three method on Wednesday, the Nifty has reversed its short-term upward movement and formed a bearish evening star pattern on Monday. Here’s what to expect from Nifty 50 and Bank Nifty today. (Read the full story here.)
Sensex Today Live : Seven key things that changed for market overnight – Gift Nifty, crude oil to Bitcoin price rally
Sensex Today Live : The local equity market is projected to commence trading on a positive note on Tuesday, despite a sense of caution, as it follows a mixed trend in global markets. Investors will be closely monitoring the release of inflation data in both India and the US later on Tuesday. On Monday, the Indian stock market experienced a broad-based selloff, with both benchmark indices ending the day nearly one percent lower due to caution ahead of significant macroeconomic data and weak global cues.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, stated that sentiments were affected after the SEBI Chief pointed out irrational surges and high valuations in small and midcaps. He also mentioned that the stress test disclosures for small and midcap funds, scheduled for announcement on March 15, are likely to maintain pressure on the broader market in the near term. He further added that the market is expected to continue its consolidation phase with significant bouts of volatility. (Read the full story here.)
Sensex Today Live : Asian markets firm, Gift Nifty up, signaling positive start for Indian markets
Sensex Today Live : After a more than 150-points lower close on Monday for Nifty 50, Gift Nifty futures was trading ahead on Tuesday morning, on the back of reports that US inflation data that is set to be released later today, would hold no surprises for the markets globally.
At 7:50 am, the Gift Nifty futures was trading at 22,448, around 115 points ahead of Nifty 50’s Monday close of 22,332.65, which was down 160.90 points, or 0.72%. With Asian markets also opening higher, market gauges globally indicated that India would also open higher tracking gains in Asian peers.
Asian markets opened higher, with the MSCI Asia ex-Japan index adding 0.23%. Most Wall Street equities had declined overnight ahead of U.S. consumer price index (CPI) inflation data, which is due after closing bell.
Australian shares rose on Tuesday, as the gains in banking and gold stocks countered the losses in energy firms, while investors awaited a U.S. inflation data for more policy clues.
The S&P/ASX 200 index gained 0.3% to 7,729.7, by 0014 GMT. The benchmark fell 1.8% on Monday.
U.S. February consumer price data – a key measure for core inflation – is due later in the day, with markets expecting a monthly increase of 0.4% and 3.1% year on year.
This could also suggest whether the Federal Reserve can begin cutting interest rates in the coming months.
South Korean shares rose on Tuesday, led by a jump in battery makers which tracked overnight gains in U.S. electric-vehicle maker Tesla.
The benchmark KOSPI rose 10.51 points or 0.40% to 2,670.35 by 0104 GMT.
The Dow Jones Industrial Average rose 46.97 points, or 0.12%, to 38,769.66. The S&P 500 lost 5.74 points, or 0.11%, at 5,117.95 and the Nasdaq Composite fell 65.84 points, or 0.41%, to 16,019.27.
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