Nifty’s Opening Cues: Wall St Indices End Lower, Asian Mkts Down, BoE Hikes Rates

By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.45% or 79 points lower at 8:55 am on Friday amid weak global cues, indicating a negative opening on Dalal Street.

Further, the traded flat and slipped 0.17%.

Major indices on Wall Street continued their downward streak, falling for the third straight session on Thursday as investors reacted to the Fed’s supersized rate hike and ultra-hawkish outlook to tame sticky inflation.

Mega-cap growth stocks like Tesla (NASDAQ:) and NVIDIA Corp (NASDAQ:) plunged up to over 5% as the benchmark U.S. Treasury yield hit an 11-year peak.

tanked 1.37%, declined 0.35% and fell 0.84%. 

Stocks across Asian markets followed weak cues from Wall Street’s overnight performance and continued to fall on Friday. Australian shares tanked to an over 2-month low in the session.

At 8:50 am, Japan’s corrected 0.6%, South Korea’s plunged 1.6%, China’s fell 1.1%, Hong Kong’s declined 0.8% and Australia’s crashed 1.9%.

The Bank of England raised interest rates to 2.25% from 1.75% on Thursday in its fight against high inflation despite the economy entering a recession.

traded at $90/barrel and at $83.2/barrel at the time of writing. Futures gained 0.7%.

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