STATE OF THE MARKETS
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 61 points, or 0.51 per cent lower at 11,880, in signs that Dalal Street was headed for a negative start on Wednesday.
Tech View: Nifty forms Doji candle
Nifty50 on Tuesday closed almost where it had opened, and thus, formed a Doji candle on the daily chart. This was the second consecutive day when the index formed the indecisive candle around the 12,000 mark. Analysts said a consolidative phase has kicked in and the index needs to take out the 12,000 level soon to avoid any correction. Support for the index is seen around the 10,850 level, analysts said.
Asian markets mixed in early trade
Japan’s Nikkei 225 index slipped 0.27 per cent or 62.99 points to 23,538.79 in early trade. Hong Kong’s Hang Seng index added 0.65 per cent, or 159.17 points, to 24,808.85. China’s Shanghai Composite dipped 0.18 per cent, or 6.13 points, to 3,353.62.
Oil prices edge lower
Oil prices were steady on Wednesday on concerns that fuel demand will continue to falter as rising coronavirus cases across Europe and in the United States, the world’s biggest oil consumer, could impede economic growth. Brent crude futures for December fell 8 cents, or 0.2 per cent, to $42.37 a barrel while US WTI futures were down 9 cents, or 0.2 per cent, to $40.11.
US stocks settled lower
US stocks finished lower on Tuesday as investors digested a slew of earnings reports.The Dow Jones Industrial Average decreased 157.71 points, or 0.55 per cent, to 28,679.81. The S&P 500 fell 22.29 points, or 0.63 per cent, to 3,511.93. The Nasdaq Composite Index was down