Nifty’s New Week Opening As Traders Remain Steadfast Over US Debt Ceiling Talks

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Nifty’s New Week Opening As Traders Remain Steadfast Over US Debt Ceiling Talks
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.07% or 11 points lower at 8:35 am on Monday, indicating a flat-to-lower opening on Dalal Street. 

Further, the Dow Jones Futures dropped 0.13% and Nasdaq 100 Futures climbed 0.04%.

The state-owned oil-producing giant Bharat Petroleum (NS: BPCL ) is set to conduct its board meeting on Monday, to release the audited financial earnings for the March-ended quarter.

Major US indices declined on Friday as the debt ceiling negotiations were put on hold in Washington and the country inched closer to the deadline for avoiding default.

Nasdaq Composite lost 0.24%, Dow Jones declined 0.33% and S&P 500 dropped 0.14% on Friday.

Asian shares traded mixed on Monday, as traders remained cautious over the stalled debt ceiling negotiations in the US, and concerns over the banking liquidity crisis lingered. Japan will release its Services PMI and Manufacturing PMI today.

At 8:33 am, South Korea’s KOSPI gained 0.87%, Japan’s Nikkei 225 traded flat with a positive bias, Hong Kong’s Hang Seng index rallied 1.47%, China’s Shanghai Composite rose 0.21% and Australia’s ASX 200 declined 0.27%.

Oil prices fell on Monday, extending losses into a third session as markets awaited more progress in negotiations over the US debt ceiling, while focus also remained on potential supply disruptions in North America, an report noted.

Brent crude declined 0.8% to $74.99/barrel and WTI Futures fell 0.78% to $71.13 a barrel while writing. Natural Gas Futures tanked 1.5%.

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