Nifty’s Opening on Tuesday Post Wild Swings on Wall Street & Ukraine Crisis

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Nifty’s Opening on Tuesday Post Wild Swings on Wall Street & Ukraine Crisis

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was up 0.78% at 8:22 am on Tuesday, rebounding earlier losses, hinting towards a positive opening on Dalal Street, with volatility pertaining in the market. At the same time, the Dow Jones Futures was down 0.6%.

The three major indices of Wall Street ended Monday on a positive note after opening in the red and trading at steep lows in the day. Fears over soaring geopolitical tension, of an impending Russian attack on Ukraine, added to the worries of the Fed tightening its monetary policies and stretched valuations. 

S&P 500 has declined 11.3% from its record high on Jan 3 and qualifies to confirm a correction. The technology-heavy index Nasdaq has tanked 17.5% from its record high in November.

The CBOE Volatility Index was seen trading at its highest level since January 2021, on Monday. Nervous investors are closely monitoring the Fed's policy meeting, concluding on Wednesday.

Nasdaq Composite ended 0.63% higher, S&P 500 climbed 0.28%, and Dow Jones rose 0.29%.

Stocks across the Asian markets opened lower on Tuesday after a volatile session on Wall Street, amid worries compounding around the Ukraine crisis, while investors await the Fed’s plans to hike interest rates to fight surging inflation.

At 8:18 am on Tuesday, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.3%, while South Korea's KOSPI tanked 2.37%, and Japan’s Nikkei 225 tumbled 1.97%. 

At the same time, Hong Kong’s Hang Seng Index dropped 1.4%, and China's Shanghai Composite slid 0.86%.

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