Nifty Pre-Open Cues Indicate Positive Open on US Debt Bill Deal, Asian Trade

  • Stock Market News
Nifty Pre-Open Cues Indicate Positive Open on US Debt Bill Deal, Asian Trade

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.43% or 80 points higher at 9 am on Friday, tracking positive global cues and indicating a higher opening on Dalal Street. 

Further, the Dow Jones Futures gained 0.13% and Nasdaq 100 Futures advanced 0.18%.

Major US indices jumped on Thursday as investors celebrated the vote for suspension of the debt ceiling, while sentiments boosted on signs of slowing wage pressure, which raised expectations of the Fed pausing the interest rates in the upcoming June policy meeting.

Investors now await the unemployment data for May, set to be released by the Labour Department. 

Nasdaq Composite jumped 1.3%, Dow Jones rose 0.47% and S&P 500 surged 0.99%.

Asian shares rose sharply on Friday amid positive vigour in the overnight session on Wall Street and suitable economic expectations coming from the US market.

At 9:05 am, Japan’s Nikkei 225 gained 0.76%, South Korea’s KOSPI jumped 0.84%, Hong Kong’s Hang Seng index soared 3.65%, China’s Shanghai Composite rose 0.76% and Australia’s ASX 200 gained 0.36%.

Oil prices rose on Friday after dipping in early trade, with Brent crude gaining 0.6% to $74.71/barrel and WTI Futures rising 0.57% to $70.5 a barrel while writing. Natural Gas Futures gained 0.3%.

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