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Monday, November 28, 2022

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Jubilant FoodWork, Mahindra Logistics, Jyoti Structures, JSW Energy, Filatex India

U.S. stocks fell as central banks across the world maintained their hawkish stance, hurting sentiment.

The S&P 500 was 0.7% down, while the tech-heavy Nasdaq traded 0.2% lower at 3:35 p.m. EDT (1:05 a.m. IST). Oil reversed losses to rise 1% as dollar softened a little and risk-on sentiment lifted equity markets. Gold dropped 0.5%, while Bitcoin rose slightly above the $19,000-mark. The yield on 10-year treasuries advanced 10 basis points to 3.79%.

India’s benchmark indices continued their downward trend for the fourth day in a row amid the post-Fed rate hike selloff. Metals, auto, realty, power and utilities stocks led the downtrend as market breadth was skewed in the favour of bear.

Rupee touched a new record low against the U.S. dollar, with all eyes on RBI’s monetary policy announcement later this week.

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