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A gap up open is likely for domestic markets on Wednesday after a soft US inflation data jolted global stocks. At 7:58 am, the SGX Nifty quoted at 18,807 levels, up 200 points from spot Nifty’s close on Tuesday.
Globally, the US inflation slowed sharply to 7.1 per cent in November, boosting stocks in Wall Street. Dow Jones gained over 100 points to close at 0.3 per cent, whereas NASDAQ Composite and the S&P 500 closed at 1.01 per cent and 0.7 per cent, respectively.
Markets in Asia-Pacific, too, cheered in tandem ahead of the US Federal Reserve’s rate action later in the day today. Nikkei 225, Topix, Kospi, Hang Seng, and the S&P 200 indices gained up to 0.7 per cent.
In the commodities market, prices of Brent Crude slipped 0.6 per cent to $80 per barrel on big build of US crude stocks, whereas WTI Crude was down 0.6 per cent to $74 per barrel.
Back home, shares of YES Bank will be in focus after private equity majors Carlyle Group and Advent International picked 9.99 per cent stake.
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