Nifty’s Opening As US Debt Ceiling Talks Approach Deadline & Mixed Asian Trade

  • Stock Market News
Nifty’s Opening As US Debt Ceiling Talks Approach Deadline & Mixed Asian Trade
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.21% or 38.5 points lower at 8:07 am on Thursday, tracking mixed global cues and indicating a lower opening on Dalal Street. 

Further, the Dow Jones Futures dropped 0.2%, while Nasdaq 100 Futures jumped 1.4%.

Major US indices declined on Wednesday as the debt ceiling negotiations continued to yield no definite result, making investors tense as the deadline for raising the country’s $31.4 trillion debt limit approaches the June 1 deadline date.

Further, Fitch Ratings placed the US’ AAA rating on Rating Watch Negative in the overnight session, citing increased uncertainty over the ongoing debt ceiling talks as lawmakers struggle to reach a deal.

Nasdaq Composite lost 0.61%, Dow Jones fell 0.77% and S&P 500 declined 0.73%.

Asian shares moved mixed on Thursday amid the US debt ceiling discussions failing to reach a decision and chances of another rate hike at the Fed’s next monetary policy meeting, while the Bank of Korea held its benchmark interest rate steady at 3.5% for the third consecutive central bank meeting.

At 8:08 am, South Korea’s KOSPI dropped 0.35%, Japan’s Nikkei 225 gained 0.44%, Hong Kong’s Hang Seng index tumbled 1.75%, China’s Shanghai Composite declined 0.42% and Australia’s ASX 200 fell 0.8%.

Oil prices dipped slightly on Thursday amid growing pressure from a strong dollar and some profit booking. Brent crude traded at $78.37/barrel and WTI Futures slipped 0.15% to $74.24 a barrel while writing. Natural Gas Futures rose 0.43%.

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