Nifty’s New-Week Opening Cues As Dow Futures, SGX Nifty Gain

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Nifty’s New-Week Opening Cues As Dow Futures, SGX Nifty Gain
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.5% or 84 points higher at 8:21 am on Monday, indicating a positive opening on Dalal Street. 

Further, the Dow Jones Futures rose 0.34% and Nasdaq 100 Futures climbed 0.23%.

Major indices in the US ended higher on Friday, ending a volatile week higher as officials of the Fed managed to calm investors of a potential crisis in the banking sector.

Nasdaq Composite rose 0.31%, Dow Jones gained 0.41% and S&P 500 jumped 0.56% on Friday. 

Asian markets climbed on Monday, following US Futures as they crept higher in early trade on expectations that authorities were bringing the liquidity crunch concerning global banks under control. 

Markets took positive cues on reports of First Citizens BancShares (NASDAQ: FCNCA ) entering into advanced talks for the acquisition of Silicon Valley Bank (NASDAQ: SIVB ) after its collapse earlier in March, from the Federal Deposit Insurance Corp.

At 8:30 am, South Korea’s KOSPI declined 0.44%, Japan’s Nikkei 225 gained 0.31%, China’s Shanghai Composite fell 0.72%, Hong Kong’s Hang Seng plunged 1.72%, and Australia's ASX 200 rose 0.14%.

Oil traded flat on Monday, hovering just above a 15-month low as markets waited for the next shoe to drop in a potential banking crisis, an report noted. 

Brent crude dipped to $74.52/barrel and WTI Futures traded at $69.25 a barrel. Natural Gas Futures shed 3.56%.

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