Nifty Expected to Rebound As Asian Stocks Jump in Early Trade: Key Indicators

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Nifty Expected to Rebound As Asian Stocks Jump in Early Trade: Key Indicators

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 1.41% or 221.3 points higher at 8:40 am on Friday, indicating a gap-up opening on Dalal Street.

At the same time, the Dow Jones Futures gained 0.52%, while Nasdaq 100 Futures climbed 0.86%.

Major indices on Wall Street continued their sharp beatdown on Thursday, as investor concerns grew around the high inflation, rising interest rates and a slowdown in the global economy.

The index S&P 500 neared its first bear market since the pandemic started, tumbling 18.7% from its record high set early this year, and zooming towards the 20% mark.

Target’s shares continued to plummet after falling nearly 25% on Wednesday.

Nasdaq Composite ended 0.26% lower, S&P 500 retreated 0.58%, and Dow Jones declined 0.75% on Thursday.

Stocks across Asian markets began Friday on a positive note despite an overnight sell-off on Wall Street, led by bargain-hunting purchases that offset some risk-off sentiment among investors.

U.S. futures also climbed higher as a measure of calm returning to markets. However, concerns of an economic slowdown and China’s ongoing COVID-19 outbreaks could lead to more volatility.

At 8:37 am, South Korea’s KOSPI jumped 1.75%, Japan’s Nikkei 225 gained 1.17%, China's Shanghai Composite climbed 0.9%, Hong Kong’s Hang Seng index climbed 1.94%, and Australia's ASX 200 gained 1.1%.

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