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By Malvika Gurung
Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , was trading 3.46% higher at 8:48 am on Wednesday, following strong global cues and indicating a positive opening on Dalal Street. At the same time, the dropped 0.17%.
The domestic market posted its highest single-day rise on Tuesday, a day after recording the worst fall in 10 months. Indian equity benchmark indices Nifty50 and ended 3.03% and 3.08% higher, respectively, led by a rally in financial, IT and oil & gas stocks, recouping almost all losses registered in Monday’s session.
The three major Wall Street indices ended sharply higher on Tuesday after Russia’s Interfax news agency reported the defence ministry stating that some Russian troops in the Southern and Western military districts have completed their exercises and started returning to base.
This led to signs of abating friction between Russia and Ukraine, even though the US and NATO commented that they had yet to see the evidence of backout.
The announcement from Moscow seemed to put fears of the Fed taking aggressive steps to tighten monetary policies this year, for curbing surging inflation, to the backburner.
ended 2.5% higher, while advanced 1.6% and climbed 1.2%.
Stocks across the Asian markets rallied on Wednesday, following the overnight rally on Wall Street overnight, and the possibility of de-escalating tension between Russia and Ukraine.
At 8:45 am, Japan’s surged 2.1%, South Korea’s climbed 1.7%, and MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.31%.
Hong Kong’s index advanced 1.4% and China’s climbed 0.76%.
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