Dow Futures Turn Flat, SGX Nifty in Red: Dalal Street’s Opening Cues

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Dow Futures Turn Flat, SGX Nifty in Red: Dalal Street’s Opening Cues

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.33% or 61 points lower at 8:15 am on Tuesday, indicating a lower opening on Dalal Street, after closing at another record high in the previous session.

Further, the Dow Jones Futures and Nasdaq 100 Futures traded flat.

Major indices on Wall Street tumbled on Monday as major Chinese cities protested against the country’s strict zero-Covid policy that stoked concerns about economic growth. 

Apple’s stock declined further on worker unrest at the Foxconn plant in China, the world’s biggest iPhone factory, raising worries about production hit on the premium phones amid a fresh resurgence of Covid-19 cases in China.

Nasdaq Composite declined 1.58%, S&P 500 fell 1.54% and Dow Jones dived 1.45%.

Stocks across Asian markets traded mixed on Tuesday as a heavy police presence prevented protests against the stringent Covid policy in China, raising prospects of more economic disruption. 

At 8:09 am, South Korea’s Kospi gained 0.32%, Japan’s Nikkei declined 0.53%, Hong Kong’s Hang Seng rallied 3.66%, China’s Shanghai Composite jumped 1.65% and Australia's ASX 200 traded muted.

Oil prices surged over a per cent on Tuesday, with Brent crude climbing over 1% at $84.15/barrel, while WTI Futures traded muted at $77.23/barrel. Natural Gas Futures traded flat.

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