Nifty’s Opening Cues: SGX Nifty, Dow Futures, Asian Trade, US Market & More

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Nifty’s Opening Cues: SGX Nifty, Dow Futures, Asian Trade, US Market & More
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.05% or 9.5 points lower at 8:40 am on Friday, indicating a flat opening on Dalal Street. 

Further, the Dow Jones Futures gained 0.14% and Nasdaq 100 Futures rose 0.3%.

Major indices in the US rose on Thursday, led by a strong run in technology stocks, extending their recent gains, while banking shares declined as the Biden administration proposed stricter rules and measures to strengthen mid-sized US banks and help reduce risk.

Nasdaq Composite jumped 0.73%, Dow Jones gained 0.43% and S&P 500 surged 0.57%.

Asian markets rose sharply on Friday and bonds marked their best month since 2008, following an overnight upswing on Wall Street, while investors omitted concerns of further banking turmoil.

However, markets remained cautious following a higher-than-expected German CPI , adding pressure on the European Central Bank to further tighten monetary policy.

China’s manufacturing PMI slowed in March amid some resilience in local demand and continued momentum from the lifting of anti-COVID measures.

At 8:35 am, South Korea’s KOSPI and Japan’s Nikkei 225 surged 1% each, China’s Shanghai Composite climbed 0.17%, Hong Kong’s Hang Seng jumped 1.01%, and Australia's ASX 200 rose 0.73%.

Oil prices slipped on Friday, as Chinese business activity data offered mixed economic cues on the world’s largest crude importer, while markets also awaited fresh direction from an OPEC meeting next week, stated an report.

Brent crude dipped to $78.4/barrel and WTI Futures slipped to $74.28 a barrel. Natural Gas Futures traded flat.

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  • Amrish Patel @Amrish Patel
    Indian Markets look bullish, however it seems this is a cue to a bigger fall in the coming days.
    Like 1

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