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OPENING BELL | Sensex rises 250 points, Nifty above 14,750
ONGC jumps 4%, UPL drops 4%
Pre-open session: Sensex climbs 290 pts, Nifty50 at 14,780
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SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 45 points, or 0.31 per cent, higher at 14,720in signs that Dalal Street was headed for a positive start on Tuesday.
Tech View: Nifty looks headed for 14,350
Nifty50 formed a large bearish candle on the daily chart on Monday and continued to make lower highs and lows for the fourth straight session. The index has already slipped below its 20-day moving average and analysts said there is a good chance that Nifty may test its 50-day simple moving average at 14,345 in the coming days.
Asian stocks slip as global rally skids
Asian stocks dipped on Tuesday as rising US Treasury yields and inflation prospects led to a further rotation out of the big tech stocks responsible for a major Wall Street rally during the pandemic. The Australian S&P/ASX 200 fell 0.11 per cent and South Korea’s Kospi declined 0.87 per cent in early trading. Hong Kong’s Hang Seng index was flat. Japanese markets are closed for a public holiday on Tuesday.
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Oil prices rise further on slow US output restart
Oil prices rose again on Tuesday after a jump in the previous session, holding near a more than 13-month high as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week. Brent crude futures were up 28 cents, or 0.4 per cent, at $65.52 a barrel, while US crude oil rose 14 cents, or 0.2 per cent, to $61.84 a barrel. Both benchmarks rose nearly 4 per cent in the previous session.
US stocks mostly lower on interest rate concerns
Wall Street largely retreated on Monday, with tech stocks taking the biggest hit amid growing concerns that borrowing rates will creep higher as the US economy — and prices — recover. The benchmark Dow Jones Industrial Average reversed early losses to close with a gain of less than 0.1 percent at 31,521.69. But the broad-based S&P 500 fell about 0.8 per cent to finish at 3,876.5, while the tech-rich Nasdaq Composite Index was the big loser, dropping 2.5 per cent to 13,533.05.
Rupee surges 16 paise to close at 72.49 against dollar
The rupee gained 16 paise to settle at 72.49 against the US dollar on Monday supported by sustained foreign fund inflows and expectation of improved macro-economic data. At the interbank forex market, the local unit opened at 72.58 against the greenback and witnessed an intra-day high of 72.29 and a low of 72.58.
Sensex, Nifty on Monday
Investor wealth slumped by Rs 3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months. Spiralling lower for the fifth straight session, the Sensex plummeted 1,145 points or 2.25 per cent to close at 49,744.32. The broader NSE Nifty sank 306.05 points or…
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