New Week Opening Cues: SGX Nifty Tumbles, Asian Shares Tank, Sterling Collapses

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New Week Opening Cues: SGX Nifty Tumbles, Asian Shares Tank, Sterling Collapses
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.82% or 141.5 points lower at 8:25 am on Monday, tracking global sell-offs and indicating a negative opening on Dalal Street.

Further, the Dow Jones Futures and Nasdaq 100 Futures fell 0.36% each.

Major indices on Wall Street continued to slump on Friday as investors continued to dump holdings, following the Fed’s ultra-hawkish rate policy, which is expected to push the largest economy into recession.

Nasdaq Composite plunged 1.8%, Dow Jones tanked 1.62% and S&P 500 fell 1.72% and slumped 5.03%, 4% and 4.8%, respectively in the week, falling for the fifth time in six weeks. 

Stocks across Asian markets followed weak cues and fell mostly on Monday, as negative sentiments continued to exert pressure. Japan’s factory activity growth fell to a 20-month low in September with the outlook remaining constrained amid a global slowdown.

At 8:12 am, Japan’s Nikkei plunged 2%, South Korea’s Kospi crashed 2.21%, China’s Shanghai Composite gained 0.4%, Hong Kong’s Hang Seng index rose 0.55% and Australia's ASX 200 tanked 1.3%.

Sterling collapsed to a record low on Monday after the UK Govt announced to implement tax cuts and investment incentives on Friday to boost the weakening economic growth. 

Oil slid in the new week and hovered near eight-month lows amid concerns of global economic slowdown denting crude demand. Brent crude tanked 0.52% and traded at $84.6/barrel and WTI Futures fell past 0.5% to $78.3/barrel at the time of writing. Natural Gas Futures jumped 1.43%.

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  • Sanjeev Kumar Choudhary @Sanjeev Kumar Choudhary
    sgx nifty why much affected by American market
    Like 1
  • Aniket Kumar @Aniket Kumar
    today may be Indian market can consolidate
    Like 1
    • Arjun Jamliya @Arjun Jamliya
      may be
      Like 0
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