D-St Opening Cues: SGX Nifty Up, Nasdaq Rallies 2.5%, Asian Shares Rise

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D-St Opening Cues: SGX Nifty Up, Nasdaq Rallies 2.5%, Asian Shares Rise
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.46% or 82 points higher at 8:52 am on Friday, indicating a positive opening on Dalal Street. 

Further, the Dow Jones Futures dipped 0.08% and Nasdaq 100 Futures dropped 0.16%.

Major US indices rose sharply on Thursday, led by a strong rally in the tech-heavy Nasdaq Composite , as Meta (NASDAQ: META ) Platforms soared 14% and touched the highest levels in over a year on quarterly revenue forecast above estimates, while Alphabet Inc (NASDAQ: GOOG ), Amazon.com (NASDAQ: AMZN ) and Comcast (NASDAQ: CMCSA ) also witnessed strong gains in the session, overshadowing concerns stemming over a slowdown in US economy.

Nasdaq Composite jumped 2.43%, Dow Jones rose 1.57% and S&P 500 surged 1.96%.

Asian shares witnessed gains on Friday, driven by strong earnings, while investors awaited the Bank of Japan’s (BoJ) policy decision

Japan’s CPI rose more than expected in April, moving back towards a 40-year high to 3.5% in April, signalling more pressure on the BoJ to tighten policy this year. 

At 8:55 am, South Korea’s KOSPI traded flat, Japan’s Nikkei 225 gained 0.7%, China’s Shanghai Composite rose 0.67%, Hong Kong’s Hang Seng index added 0.56%, and Australia’s ASX 200 advanced 0.16%.

Oil prices rose slightly on Friday, but were nursing sharp losses for the week, as oil contracts Brent crude climbed 0.26% to $78.42/barrel and WTI Futures traded at $74.93 a barrel. Natural Gas Futures declined 0.34%.

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