Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices BSE Sensex and NSE Nifty 50 are likely to open in green, hinted SGX Nifty. Nifty futures traded 0.3% higher at 16,990.5 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start. Global cues were mixed as US stocks ended lower on Tuesday, and Asian markets were mixed today. Japan’s Nikkei 225 was down 0.2%, while South Korea’s Kospi shed 0.23%. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed. Overnight on Wall Street, the S&P 500 shed 0.65%, and the Nasdaq Composite dropped 1.10%. The Dow Jones Industrial Average bucked trend to close 0.12% higher.

India’s retail inflation for September is expected to stay elevated, aligned with the trends seen in the previous months of this fiscal due to global supply disruptions, erratic rainfall, unstable fuel prices, and higher prices of cereal, vegetables, and pulses. The CPI inflation in September is likely to hover in the range of 7-7.3%, according to analysts. CPI inflation for August rose to 7% from 6.7% in July 2022. If the estimations by the analysts come out to be true, this will be the ninth month that the retail inflation has remained above RBI’s upper threshold of 6%. According to RBI’s assessment, the CPI inflation may come in the target band of 2-4% in the next two years.

SGX Nifty hinted at a flat to positive start for Indian benchmark indices with a gain of 0.3%. In the previous session, BSE Sensex plunged 844 pts or 1.46% to 57,147, while NSE Nifty 50 fell 257 pts or 1.5% to settle below 17000. “There is pessimism in the markets as weak global economic outlook along with the pressing geopolitical tension and the dangling rate hike worries has given investors the ammunition to exit equities at will. Also, the US FOMC minutes outcome is already making investors nervous on concerns that the Fed could be going more rate hikes to keep a leash on rising inflation menace,” 

“Indian Markets are caught in the web of global turmoil. While Domestic investors are fighting hard to come out of this web, they have been unable to do so amid high volatility with Nifty falling below its key psychological levels of 17,000. Markets may remain under pressure in the near term, as global factors continue to outweigh. Further, macro data like CPI, IIP and WPI, along with US Fed meeting minutes to be released over the next few days would be closely tracked by investors for further cues on market direction,”

Indicators and oscillators have turned bearish on the short-term charts. Below 16900, Nifty could drag towards next supports of 16750 and 16600. Resistance for Nifty has shifted down to 17300 levels.”