Nifty’s Opening Amid US Debt Ceiling Negotiations, Wall-St Vigour & Asian Trade

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Nifty’s Opening Amid US Debt Ceiling Negotiations, Wall-St Vigour & Asian Trade

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.2% or 36 points higher at 8:35 am on Friday, indicating a marginally higher opening on Dalal Street. 

Further, the Dow Jones Futures advanced 0.1% and Nasdaq 100 Futures gained 0.3%.

Major US indices ended strong on Thursday, following a phenomenal quarterly performance of the March-ended quarter for Walmart (NYSE: WMT ) Inc, along with the company hiking its full-year sales forecasts, indicating robust consumer spending.

Further, the initial jobless claims dipped lower-than-estimated last week, while investors closely awaited debt ceiling negotiations in Washington. 

Nasdaq Composite surged 1.51%, Dow Jones rose 0.34% and S&P 500 jumped 0.94%.

Asian shares traded mixed on Friday, with Japan’s Nikkei 225 index hovering at a nearly 33-year high in the session, while Hong Kong stocks extended weakness in the morning Asian trade on concerns of a stumbling economic recovery.

At 8:35 am, South Korea’s KOSPI gained 0.67%, Japan’s Nikkei jumped 1.04%, Hong Kong’s Hang Seng index tanked 1.02%, China’s Shanghai Composite traded flat and Australia’s ASX 200 rose 0.6%.

Oil prices gained on Friday after creeping lower in early trade amid pressure from a stronger dollar, which hit a seven-year peak in the previous session.

Brent crude jumped 0.82% to $76.48/barrel and WTI Futures rose 0.74% to $72.39 a barrel while writing. Natural Gas Futures fell 1.11%.

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