Stock Market Live Updates: Asian equities mixed as US inflation data looms and oil hits 10-month high

Economy Watch: Factory output grew 5.7% in July, caution remains

Manufacturing and mining sectors have helped industrial growth to rise to a five-months high of 5.7 per cent in July, government data released on Tuesday showed.

Better performance of industry along with moderation in inflation will give room to Monetary Policy Committee to maintain status quo in policy rate. Read more

Economy Watch: Retail inflation dropped to 6.8% in Aug as veg, edible oil prices fall

Fall in vegetable and edible oil prices pushed retail inflation based on Consumer Price Index (CPI) below 7 per cent in August to 6.8 per cent. It was 7.4 per cent in July. However, cereal prices are still high. Read more

Technical Recommendations: Day trading guide for September 13, 2023: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Technical Recommendations: Stock to buy today: ICICI Bank (₹990.90): BUY

The short-term outlook is bullish for ICICI Bank. The stock has risen 1.28 per cent on Tuesday breaking above a key resistance level of ₹975. This rise has happened after taking good support from around the 100-Day Moving Average over the last one month. This will act as a good support now. Read more

Stock Market Live Today: Mixed performance in Asian equities ahead of key US inflation data and oil nearing 10-month high

Asian markets exhibited a mixed performance ahead of the release of US inflation data for August, which holds the potential to offer valuable insights into the Federal Reserve’s future interest rate decisions. Concurrently, oil prices remained near a 10-month peak due to ongoing global supply concerns.

In South Korea and Japan, stock markets saw gains, while Australian equities experienced a decline. The Japanese stock market received a boost from August’s producer price data, which, although slightly below economist expectations, had a positive impact. Additionally, Hong Kong stock futures showed advancement, whereas US futures remained relatively stable.

The Nikkei 225 index surged by 0.95% to reach 32,776.37, with the Topix index posting a modest increase of 0.18% to reach 2,384.18. In contrast, South Korea’s Kospi index recorded a 0.79% decline, settling at 2,536.58, while Australia’s S&P/ASX 200 Index experienced a 0.40% decrease, ending the day at 7,178.10.

Commodity Market Live Today: Oil prices surge to 10-Month high on tightening global supply and Libya concerns, defying China demand worries

On Wednesday, oil prices inched upwards, maintaining their recent upward trajectory, reaching a new 10-month peak achieved the day before. This uptick can be attributed to the prevailing expectations of a tighter global supply and apprehensions regarding potential disruptions in Libya, which have outweighed concerns about decreased demand in certain countries, notably China.

The global benchmark, Brent futures, registered an increase of 8 cents, equivalent to 0.1%, reaching $92.14 per barrel. Simultaneously, U.S. West Texas Intermediate (WTI) crude saw a 14-cent uptick, or 0.2%, settling at $88.98 per barrel.

Both these benchmarks demonstrated remarkable gains of nearly 2% on Tuesday, concluding at their highest price points since November 2022.

Stock Market Live Today: Wall Street ends lower

On Tuesday, stocks on Wall Street closed in negative territory, with the S&P 500 slipping by 0.57% to conclude the session at 4,461.91 points.

The Nasdaq also experienced a decline of 1.04%, closing at 13,773.62 points, while the Dow Jones Industrial Average registered a marginal decrease of 0.05%, settling at 34,645.99 points.