Stock Market Today: Top 10 things to know before the market opens today
Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 126 points.
Fuel Prices on June 16
Petrol and diesel prices have held steady for over three weeks, according to a price notification by fuel retailers.
Fuel prices have remained unchanged ever since the government on May 21 announced an excise duty cut on petrol by a record Rs 8 per litre and on diesel by Rs 6 per litre.
Crude Price Updates:
Oil prices recovered on Thursday from a steep drop in the previous session, supported by tight oil supply and peak summer consumption, after a U.S. rate hike sparked fears of slower economic growth and less fuel demand.
Brent crude futures rebounded $1.10, or 0.9%, to $119.61 a barrel by 0202 GMT while U.S. West Texas Intermediate (WTI) crude futures rose to $116.59 a barrel, up $1.28, or 1.1%.
Trade Spotlight | What should you do with Affle India, Indraprastha Gas, Strides Pharma Science on Thursday?
Strides Pharma Science and Indraprastha Gas, which were among the top gainers in the F&O segment, and Affle formed bullish candlesticks on the daily chart on June 15
No Sign Of Broader Slowdown In Economy
Inflation-Related Cues Warranted Bigger Hike
Inflation Risk Weighted To The Upside
‘Strongly Committed’ To Return To 2% Inflation
50 Or 75 bps Move Most Likely In July
The dollar retreated from a 20-year high on Thursday after the Federal Reserve delivered its biggest rate hike in decades but then tempered its outlook by telling investors that such sharp moves higher were unlikely to become a habit. The dollar index, which made a two-decade high of 105.79 on Wednesday, traded at 104.84 in Asia.
Largest Rate Hike By Fed Since 1994 – At 75 bps
Powell Hints At Another Big Move Of 50 Or 75 bps In July
Fed Sees Interest Rates At 3.4% By December
Risk Of Many Super-Sized Rate Hikes Off The Table
Do Not Expect Moves Of This Size To Be Common
Bitcoin falls to fresh 18-month low
Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals.
The world’s largest cryptocurrency fell as much as 7.8% to $20,289, its lowest since December 2020. It has lost around 28% since Friday and more than half of its value this year. It has slumped about 70% from its record high of $69,000 in November.
JUST IN | Jet Fuel (ATF) price hiked by 16.3 percent to all-time high of Rs 1.41 lakh/kL tn Delhi. The ATF price has nearly doubled in 2022, up 91% in last six months, reported CNBC-TV18.
Morning Scan: All the big stories to get you started for the day
A round-up of the biggest articles from newspapers
European shares break 6-day losing streak:
European stocks snapped their six day losing streak on Wednesday after the European Central Bank (ECB) announced measures to temper a bond market rout, even as some investors looking for a more decisive action were disappointed.
After an unscheduled meeting, the ECB said it would skew reinvestments of maturing debt to help more indebted euro zone members and would devise a new instrument to stop a fragmentation of the bloc’s bond market. read more
An index of euro zone shares gained 1.6%, bouncing off lows hit after the statement. Euro zone banks climbed 2.5%, but were off highs hit earlier in the session.
Trade setup for Thursday: Top 15 things to know before Opening Bell
Based on the open interest future percentage, short-covering was seen in 78 stocks including Deepak Nitrite, Syngene International, Polycab India, Ashok Leyland, and Shriram Transport Finance