Dow Futures, SGX Nifty Gain: D-Street’s Opening Cues

  • Stock Market News
Dow Futures, SGX Nifty Gain: D-Street’s Opening Cues

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.32% or 54 points higher at 8:32 am on Tuesday, indicating a positive opening on Dalal Street. 

Further, the Dow Jones Futures advanced 0.12% and Nasdaq 100 Futures climbed 0.12%.

Major indices in the US ended mixed on Monday, led by a boost in bank shares after First Citizens BancShares (NASDAQ: FCNCA ) struck a deal to acquire the loans and deposits of the failed Silicon Valley Bank (NASDAQ: SIVB ) for $72 billion. 

As a result, its shares soared 53% in the session, while other banking stocks jumped too. The S&P 500 banks index zoomed over 3%. However, a fall in big tech-related stocks kept some gains in check. 

Nasdaq Composite declined 0.47%, Dow Jones rose 0.6% and S&P 500 gained 0.16%.

Asian markets advanced on Tuesday, following an uptick on Wall Street after a deal to buy Silicon Valley Bank soothed the banking turmoil and investor worries. U.S. bond yields rose on Tuesday. 

At 8:28 am, South Korea’s KOSPI gained 0.42%, Japan’s Nikkei 225 and China’s Shanghai Composite traded flat, Hong Kong’s Hang Seng rose 0.58%, and Australia's ASX 200 jumped 1.12%.

Oil prices slid on Tuesday after rising in the previous session, as markets weighed the prospect of tighter near-term supply against growing political disruptions in parts of Europe, an report stated. 

Brent crude fell 0.5% to $77.39/barrel and WTI Futures dipped to $72.7 a barrel. Natural Gas Futures rose 0.36%.

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