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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