Pre-Market Cues: SGX Nifty Futures Trade Flat, Mixed Asian Stocks, Oil Up & More

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Pre-Market Cues: SGX Nifty Futures Trade Flat, Mixed Asian Stocks, Oil Up & More

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 0.11% or 16.7 points lower at 8:50 am on Thursday, indicating a muted-to-lower opening on Dalal Street, ahead of the monthly expiry of derivatives.

Further, the Dow Jones Futures slid 0.2% and Nasdaq 100 Futures retreated 0.22%.

Major indices on Wall Street ended a choppy session on a mixed note on Wednesday amid mounting worries about inflation and aggressive US Fed's monetary tightening. All the indices traded between red and green in the session, as the market has been trying to find direction.

The tech-heavy index Nasdaq was all set to record its worst-ever first-half performance, while the blue-chip Dow is on its way to hitting its steepest percentage drop from the Jan-Jun quarter since the 2008 crisis.

Nasdaq Composite ended flat, Dow Jones climbed 0.27% and S&P 500 lowered 0.3%.

Stocks across Asian markets traded mixed on Thursday morning, tracking muted cues from Wall Street’s overnight performance, as investors assessed comments from central bank chiefs on tackling red hot inflation pressure. 

At 8:45 am, South Korea’s KOSPI declined 0.71%, Japan’s Nikkei 225 fell 0.91%, Hong Kong’s Hang Seng index gained 0.3%, China’s Shanghai Composite jumped 1.23%, and Australia's ASX 200 slipped 0.8%.

Brent crude climbed 0.44% to $112.96/barrel and WTI Futures traded gained 0.33% at the time of writing, as markets evaluated an uptick in U.S. gasoline and distillate inventories amid worries of a dampening economic growth and concerns related to supply tightness. Natural gas futures rose over 1%.

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