Domestic stock markets are expected to open in the green, after falling 1% in the previous session, according to early indications from SGX Nifty futures trading. The trends on SGX Nifty indicate a positive opening of the index in India, with a gain of 43 points. As of 7:30 am, Nifty futures were trading at 14,575, an increase of 43 points or 0.37%, on the Singapore Stock Exchange.
Asian stocks were at risk of falling for a fourth straight session on Wednesday, as sentiment took a hit on the selling of Wall Street’s large-cap tech darlings, combined with talks about rising U.S. interest rates.
Holidays in Japan, China and South Korea limited the early reaction, leaving the larger MSCI Asia-Pacific equity index outside of Japan hesitant on either side of the dish. Japan’s Nikkei was closed, but futures were down to 28,735 from the last cash close of 28,812.
Overnight, the Nasdaq fell more than 2% on Tuesday as sharp declines in mega-cap growth stocks pushed Wall Street below record trading levels as investors sought shelter in more defensive parts of the market.
The Dow Jones fell 0.69%, the S&P 500 fell 1.34% and the Nasdaq Composite fell 2.73%.
On Monday, markets had fallen 1 percent in a volatile trading session.
On the earnings front, Tata Steel, Adani Enterprises and Adani Green will report their results for the quarter ended March 2021.