LIVE market updates: The equity benchmark indices look poised to extend losses, tracking a weak global market mood. The SGX Nifty signals a negative opening for the domestic indices as the index was down 91 points at 17,633 around 8 am. Apart from this stock-specific news flow and primary market action would keep market participants busy.
On Wednesday morning, the Asia-Pacific shares fell following an overnight tumble on Wall Street. In Japan, the Nikkei 225 slipped 2.08 per cent while the Topix index dropped 2.25 per cent. South Korea’s Kospi declined 1.09 per cent. The S&P/ASX 200 in Australia fell 0.93 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.34 per cent lower.
Overnight in the US, stocks ended sharply lower in a broad sell-off driven by rising US Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington. All three major US stock indexes slid nearly 2 per cent or more.