Stock Market Today: SGX Nifty declines 119 pts; Asian markets off to weak start; oil prices fall after 4-day rise

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Oil falls after blistering run amid global energy crisis

Oil prices fell for the first time in four days on Tuesday, taking a breather, analysts said, after weeks of gains fuelled by a rebound in global demand that is contributing to energy shortages in economies from Europe to Asia. Brent crude was down 26 cents, or 0.3%, at $83.39 a barrel at 0211 GMT, after touching three-year highs on Monday on the way to a 1.5% advance.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 119 points, or 0.66 per cent, lower at 17,842.00, signaling that Dalal Street was headed for a negative start on Tuesday.

Tech View: Nifty sees selling pressure at high; 18K holds the key

Nifty50 on Monday hit the 18,000 mark, only to close below its recent hurdle of 17,950. The index ended up forming a bullish candle on the daily chart with a long upper wick, suggesting selling pressure at higher levels. Analysts said the index has support at 17,840, below which some selling pressure can set in. On the upside, they see resistance at 18,000 and 18,130 levels.

Hong Kong stocks begin with losses

Hong Kong shares started Tuesday on the back foot after three days of healthy gains while investors grow increasingly concerned about spiking inflation and a global energy crisis. The Hang Seng Index fell 1.30 percent, or 329.14 points, to 24,995.95. The Shanghai Composite Index dipped 0.29 percent, or 10.41 points, to 3,581.30, while the Shenzhen Composite Index on China’s second exchange shed 0.24 percent, or 5.69 points, to 2,397.77.

Japan shares under pressure after Wall Street losses

Tokyo stocks opened lower on Tuesday after Wall Street slipped, as investors looked for fresh news with inflation worries continuing to weigh. The benchmark Nikkei 225 index lost 0.13 percent, or 35.84 points, to 28,462.36 yen. The broader Topix index fell 0.25 percent, or 5.06 points, to 1,991.52.

Wall St ends choppy session lower on earnings jitters

US stocks ended a choppy session lower on Monday as investors grew nervous ahead of third-quarter earnings reporting season. The Dow Jones Industrial Average fell 250.19 points, or 0.72%, to 34,496.06, the S&P 500 lost 30.15 points, or 0.69%, to 4,361.19 and the Nasdaq Composite dropped 93.34 points, or 0.64%, to 14,486.20.

Rupee slides 37 paise to 15-month low of 75.36 against dollar

The rupee slid by 37 paise to close at a 15-month low of 75.36 against the US dollar on Monday as crude oil zoomed towards seven-year high and the greenback hardened in the overseas markets. The Indian currency for the first time this year settled below the 75 level as fears of high import bill due to costlier crude oil and forex outflows due to firming US bond yields weighed on the local unit. The rupee had fallen by 20 paise to end at 74.99 on Friday.

Sensex, Nifty on Monday

Equity benchmarks Sensex and Nifty on Monday scaled new peaks by continuing their winning run to the third session in a row, propelled by gains in mainly auto, power and banking shares. After scaling a new intraday high of 60,476.13 during the session, the 30-share Sensex closed 76.72 points or 0.13 per cent higher at 60,135.78. The Nifty rose 50.75 points or 0.28 per cent to its all-time closing high of 17,945.95. Intraday, the NSE gauge touched a new peak of 18,041.95.

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