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By Malvika Gurung
Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.49% or 86.5 points higher at 8:50 am on Wednesday, indicating a positive opening on Dalal Street amid strong global cues.
Further, the slipped 0.19% and declined 0.43%.
India’s Finance Minister Nirmala Sitharaman will present the Union Budget 2023 at 11 am on Wednesday, the last full-year Budget of the Modi government.
Major indices on Wall Street gained sharply on Tuesday as labour costs data rose at its slowest pace in a year in Q4 due to a slowdown in wage growth, indicating that the Fed would relax on its aggressive interest rate hike approach to tame high inflation ahead of its monetary policy meeting.
jumped 1.67%, surged 1.09% and rallied 1.46%. This is the first January where the S&P 500 recorded an increase since 2019, rising 6.2%, while the posted its biggest Jan surge of 10.7% since 2001.
Asian markets rose on Wednesday, following an overnight rally on Wall Street after a low rise in US employment cost bolstered positive hopes from the Fed’s side.
At 8:50 am, Japan’s Nikkei climbed 0.18%, South Korea’s Kospi rose 0.65%, China’s gained 0.16%, Hong Kong’s advanced 0.15% and Australia’s ASX 200 rose 0.43%.
Oil climbed in the early session with rising 0.22% to $86.66/barrel and WTI Futures surged to $79.16/barrel at the time of writing. Futures jumped 1.43%.
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