U.S. spending unexpectedly rose in August, with core inflation rising as incomes and health care costs rose, allowing the federal government to give its third increase in 75 years on Wednesday.

The Indian stock market opened down 757.37 points, or 1.25 percent, at 59,813.71 at 9:17 am on Wednesday. to do. About 475 shares advanced, 1,667 declined and 78 remained unchanged.

All sectors were in the red as IT, financials, auto, and real estate indices fell 1-3 percent. The BSE index of small and medium enterprises fell by more than one percent.

US markets fell sharply on Tuesday after the latest inflation data for the world’s largest economy showed a less-than-expected drop in inflation, which is at its lowest level in decades. Asian markets traded in the red on Wednesday as the US inflation report soured – higher inflation expectations fell to a peak and prices rose, said Mohit Nigam, head of PMS at Haim Securities.

From a technical point of view, Nifty50’s main resistance level is at 18,000, while the lower level of 17,500 could act as strong support. Bank Nifty’s main resistance and support levels are 40500 and 39500.

U.S. spending unexpectedly rose in August, with core inflation rising as incomes and health care costs rose, allowing the federal government to give its third increase in 75 years on Wednesday.

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The consumer price index rose 0.1 percent last month after remaining flat in July. While consumers benefited from a 10.6 percent drop in gasoline prices, they struggled to pay for food, rent, medical care, electricity, and natural gas. Food prices increased by 0.8 percent and household consumption by 0.7 percent. Fuel prices rose 11.4 percent year over year, the biggest increase in the 12 months since May 1979.

Economists polled by Reuters had expected the consumer price index to fall 0.1 percent. On August 12, the price index rose 8.3 percent. Inflation was 8.5 percent in July and 9.1 percent in June, the highest since November 1981. Inflation has already exceeded H’s 2% target.

Are sold in global markets

US stocks rose on Tuesday after a higher-than-expected inflation report raised hopes for a more gradual easing of policy by the Federal Reserve in the coming months. The Dow Jones Industrial Average was down 1,276.37 points, or 3.94 percent, at 31,104.97, the S&P 500 was down 177.72 points, or 4.32 percent, at 3,932.69 and the Nasdaq Composite was up 39.6 percent. Since, from 3.3 to 9.5%, ie…

Among Asian companies, the Nikkei and Hang Seng fell more than 2 percent, while the Kospi and Shanghai fell 1 percent.

At 09:30, the SGX Nifty was down 265 points at 17,827.

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Fed Seen Getting appears to be more aggressive in development

The Federal Reserve is likely to raise U.S. borrowing costs earlier than expected before data on Tuesday showed that core inflation rose more than expected. According to the US Labor Department, general consumer prices rose 0.1 percent last month from July — economists had expected a decline — and rose 8.3 percent from a year earlier.

The data also indicates that rapid inflation and income growth, which continues on a month-to-month basis, make it difficult for H to fight inflation.

Oil prices will increase

Oil prices rose on Wednesday after OPEC forecasted only solid growth in global fuel demand, raising other U.S. concerns. H’s visit will take place next week after a surprise price hike in August. Brent oil futures rose 3 cents

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Analysts say the worst overnight selloff on Wall Street since June 2020 as recession and Fed concerns weigh on markets. It’s here.

Indian stock markets are under pressure due to concerns over inflation and interest rate hikes by global central banks. The BSE S&P Sensex fell below 400 points and the Nifty50 fell below the 15,900 level, continuing its decline overnight on Wall Street.

All sector indices traded lower with Nifty IT falling more than 5%. Meanwhile, Nifty Metal and Nifty Media fell from 4% to 3%. Meanwhile, the Nifty Midcap 100 is down about 3% and the Nifty Smallcap 100 is down less than 2%.

US data posted its worst one-day drop since June 2020 as stocks weakened on worries about economic growth. Read more

Analysts expect the market to weaken in the near term due to recession fears and the Fed’s fourth aggressive tightening policy.

The sale of foreign investment institutions (IFIs) can also increase market volatility. FII sold shares worth Rs 38 million through May for the eighth consecutive month.

Analysts are now predicting the selloff will go even further. “As Warren Buffett once observed, asset prices are limitless when there are no salaries… When interest rates start to rise, gravity pulls us in. Gravity pulls the market back home. He’s spinning.” Head of Research at IDBI Capital.

The main driver chased after a traffic jam on Thursday.

Weak global indices: The Wall Street index fell 3.2% on Wednesday for the Dow Jones, 3.6% for the S&P 500, and 4.3% for the Nasdaq. Shares of the US retail giant fell 25% to $162, the biggest drop since October 19, 1987.

In addition to lower first-quarter profits, management warned that rising fuel and transportation costs would further worsen profits.

Markets in Asia and the Pacific followed the US decline on Thursday as investors feared higher prices and war in Ukraine. Hong Kong’s Seng index fell 2.25% and shares of Chinese tech company Tencent fell more than 6% on weakness. Meanwhile, the Nikkei 225 fell 1.75%, Korea’s Kospi 1.34%, and Australia’s ASX 200 1.61%.

Hawkish H and Unemployment Data: The US Federal Reserve (FED) expects interest rates to rise as US consumer prices fall to a 40-year high of 8.2%. We decided to control the weather. Fed Chairman Jerome Powell said in a recent speech that the central bank will continue to raise rates until there is “clear and convincing” evidence of a rate cut. June 14 and 15

Meanwhile, the unemployment rate in April was 3.6%, slightly higher than the unemployment rate of 3.5%. Meanwhile, the number of jobs topped one million, down from February 2010 levels.

RBI on monetary plans – Like other central banks around the world, the RBI has tightened and is eyeing a massive hike. Most members of the Monetary Policy Committee (MPC) warned against inflation in the minutes of the March 4 emergency meeting earlier this month during the monetary policy review. Read moreCrude rises: Brent rose above $110 a barrel as supplies from Russia, and a few countries, dwindled seven weeks after the ban. Meanwhile, data showed China’s crude oil production fell 11% since the outbreak of COVID-19, pushing oil prices up in April.

By bemaad

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