Nifty’s Pre-Open Cues: Dow Futures, Global Factors, Asian Markets, Oil & More

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Nifty’s Pre-Open Cues: Dow Futures, Global Factors, Asian Markets, Oil & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.02% or 3.5 points lower at 8:54 am on Thursday, indicating a flat opening on Dalal Street.

Further, the Dow Jones Futures slipped 0.04%, while Nasdaq 100 Futures lowered 0.18%.

Major indices on Wall Street ended mixed on Wednesday as investors tried to fathom the Fed’s monetary tightening size and its impact on the economy touted to head towards recession. 

Further, downbeat comments from American banking giants have added to recessionary woes.

Nasdaq Composite and S&P 500 declined on Wednesday, lowering for the fourth and fifth consecutive sessions, respectively, while Dow Jones ended on a muted note.

Stocks across Asian markets traded mixed on Thursday, propped up by equities in China and Hong Kong amid easing Covid restrictions in China, while investors weighed on the concerns of the Fed hiking rates at a faster pace.

At 8:55 am, South Korea’s KOSPI 50 declined 0.63%, Japan’s Nikkei 225 fell 0.74%, Hong Kong’s Hang Seng rallied 2.9%, China’s Shanghai Composite rose 0.21% and Australia's ASX 200 corrected 0.63%.

Oil prices rose after falling for four days and sinking to its lowest level this year. WTI Futures plummeted 11% in four sessions following recessionary woes and as investors weighed China’s reopening against it.

Brent Futures surged 1% to $77.93/barrel and WTI Futures rose to $72.79/barrel. Natural Gas Futures jumped 1.6%.

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