Pre-Open Cues: SGX Nifty Futures Signals Flat Opening, Japan Stocks Surge & More

  • Stock Market News
Pre-Open Cues: SGX Nifty Futures Signals Flat Opening, Japan Stocks Surge & More
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 0.05% or 9 points higher at 8:35 am on Friday, indicating a muted opening on Dalal Street. 

Further, the Dow Jones Futures was up 0.1% and Nasdaq 100 Futures gained 0.23%.

Major indices on Wall Street ended mixed on Thursday despite a softer-than-expected US inflation print, as investors realized that the Fed would still need to boost interest rates aggressively to tame the high inflation.

Producer prices in the US declined unexpectedly in July, as the cost for energy products dropped and producer inflation appeared to follow a downward trend.

This pulled the S&P 500 index lower from hitting fresh three-month highs.

Nasdaq Composite declined 0.58%, Dow Jones retreated 0.1% and S&P 500 lowered 0.08%. 

Stocks across Asian markets traded mostly higher on Friday, driven by stocks in Japan that surged on return to trade, while Treasuries remained mixed as investors factored in the Fed’s prospects of raising interest rates to tame inflation.

At 8:30 am, South Korea’s KOSPI traded flat, Japan’s Nikkei 225 rallied 2.4%, Hong Kong’s Hang Seng index rose 0.3%, China’s Shanghai Composite gained 0.13%, and Australia's ASX 200 lost 0.54%.

Brent crude fell 0.44% to $99.17/barrel and WTI Futures traded 0.51% lower at $93.88/barrel at the time of writing. Natural gas Futures traded flat.

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