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Oil falls on concerns expected Fed hike will impact fuel demand
Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the U.S., the world’s biggest oil user, may limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5%, to $102.72 a barrel at 0205 GMT, down for a fourth day.
Asian stocks slip as growth risks sap confidence
Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares lost 0.62% to 158.68, after touching the highest since June 29 at 160.03 on Friday.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 81.5 points, or 0.49 per cent, lower at 16,643.50, signaling that Dalal Street was headed for a negative start on Monday.
Quarterly earnings today
Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, Glaxosmithkline Pharmaceuticals, Central Bank Of India, Solar Industries India, Supreme Industries and Indian Energy Exchange are among companies that will announce their quarterly earnings today.
Tech View: Nifty50 extends winning run, stiff resistance at 16,800 likely
Nifty50 on Friday climbed for the sixth session in a row and, in the process, took out the 16,700 level on a closing basis. The index formed a bullish candle on the daily chart and a solid bullish candle on the weekly scale. Analysts largely see resistance for the index at 16,800-850 levels. They see a strong support for the index at 16,500 level.
Tokyo shares open lower
Tokyo stocks opened lower Monday tracking losses on Wall Street, with investors disheartened by a key monthly survey on economic activity that fuelled concern over a global slowdown. The benchmark Nikkei 225 index slipped 0.62 percent, or 173.32 points, to 27,741.34 in early trade, while the broader Topix index fell 0.42 percent, or 8.29 points, to 1,947.68.
Wall Street closes lower as ad tech, social media stocks drop
U.S. stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.
Rupee falls 5 paise to end at 79.90 against dollar
The rupee fell by 5 paise to close at 79.90 against the US dollar on Friday as stronger American currency and elevated crude oil prices weighed on investor sentiment. However, a firm trend in domestic equities restricted the rupee’s fall, forex traders said.
Sensex, Nifty on Friday
The 30-share pack Sensex advanced 390 points to close at 56,072. Its broader peer, Nifty50, rose 114.20 points to close above the 16,700 mark. For the week, the benchmarks have advanced over 4 per cent.