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More sharp declines in Big Tech stocks sent the Nasdaq composite down 4 percent Tuesday, the worst drop for the tech-heavy index since September 2020. The S&P 500 fell 2 percent. The Dow Jones Industrial Average fell 627 points, or 1.8 percent, to 33,427 and the Nasdaq fell 3 percent.
Shares in Asia-Pacific fell on Wednesday morning after overnight losses saw the tech-heavy Nasdaq Composite sliding to a fresh low for 2022. The Nikkei 225 in Japan declined 2.15 percent, while the Topix index dropped 1.61 percent. South Korea's Kospi shed 1.75 percent.
Indian indices surged around 1.5 percent on Tuesday snapping 2 sessions of losses amid a broad-based rally across global peers. The Sensex ended 777 points higher at 57,357, while the broader Nifty rose 247 points to settle at 17,210.
At 8:20 am, the SGX Nifty was trading 158 points or 0.9 percent lower at 17,052, indicating a gap down opening for the Indian markets.
Oil prices rose in early Asian trade on Wednesday, extending gains from the previous session after China's central bank said it would support its economy. Brent crude futures rose to near $106 a barrel. Crude prices rose about 3 percent in the previous session in volatile trade.
The price band for the initial public offering of Life Insurance Corporation of India (LIC) has been set at ₹902 to ₹949, with a discount of ₹60 for policyholders, CNBC TV18 learnt from sources. For retail and employees, the discount will be of ₹40. The much-awaited IPO of the state-run insurance behemoth is set to open on May 4 and likely to close on May 9.
Gold prices rose initially on safe-haven buying but were down 0.3 percent to $1,903.50 an ounce at 7:37 am.
The rupee rose by 8 paise to close at 76.56 against the US dollar on Tuesday following a rebound in regional currencies and expectations of foreign fund flows.
Foreign institutional investors (FII) net sold Indian shares worth ₹1,174.1 crore on Tuesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases of ₹1,643.8 crore.