Market Bizzz

The dollar hovered near a two-decade high against major peers on Wednesday, ahead of a key reading on inflation that should provide clues on how aggressive the Federal Reserve will be in tightening monetary policy. The dollar index, which measures the currency versus six rivals, was around flat at 103.92, not far from the high of 104.49 reached at the start of the week for the first time since December 2002.

Asian stocks opened slightly lower on Wednesday, before turning mixed and steadying after losses from Wall Street’s rout on fears of economic risks from surging inflation. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.04 per cent.

Asian stocks open lower Tuesday, tracking another Wall Street rout on stubborn fears over rising US interest rates and inflation, with investors eyeing earnings reports. MSCI’s index of Asia-Pacific shares outside Japan was down by 1.93 per cent.

Bitcoin’s value has more than halved since a November surge that saw the token hit a record of nearly $69,000.

Adani Ports, PNB, Petronet LNG, Relaxo Footwears, Indian Bank, SKF India, BSE, Balaji Amines, Lakshmi Machine Works, Birla Corporation and Kalyan Jewellers are among the companies which will announce their earnings today.

Today is the record date for NCL Research and Financial Services’ rights issue. The company had announced a rights issue in the 21:25 ratio.

The largest ever IPO of the Indian primary markets, aggregating to Rs 20,557 crore, is open for subscription till May 09. The retail bidders can bid for the issue even on Saturday, an unusual move aimed at attracting investors.