Stock Market rallied on support from financials on Tuesday as domestic inflation data came below consensus with Bank Nifty closing higher by more than 1% above 35,500. Although Nifty also posted gains of more than 100 pts, it still remains vulnerable to larger sell-off as long it trades in range of 15,620-15,900 with 15,620 acting as a trigger point. With Brent crude prices firmly back above USD 76 a barrel, we can expect even midcap and small cap stock to come under pressure in today\u2019s trade. Trends in SGX Nifty is indicating a weak opening of 43 points.<\/p>\n\n\n\n
U.S indices closed lower after bond yields jumped and global share prices slipped after posting new highs on Tuesday as the biggest hike in U.S. inflation in 13 years rattled investors who fear rising interest rates could end a stock market rally that has doubled prices from 2020 lows. The Dow Jones Industrial Average fell 0.31% to 34,888.79 and the Nasdaq Composite dropped 0.38% to 14,677.65. Asian indices mostly slipped following a hotter-than-expected U.S. inflation report for June overnight.<\/p>\n\n\n\n
Crude oil prices gained almost 2% on Tuesday after the International Energy Agency said the market should expect tighter supply for now due to disagreements among major producers over how much additional crude to ship worldwide. Brent crude rose $1.33, or 1.8%, to settle at $76.49 a barrel.<\/p>\n\n\n