Pre-Open Signals: Dow Futures, SGX Nifty, Asian Markets, Wall St Cues; Oil Up

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Pre-Open Signals: Dow Futures, SGX Nifty, Asian Markets, Wall St Cues; Oil Up
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.09% or 15.5 points higher at 8:40 am on Wednesday, indicating a flat opening on Dalal Street.

Further, the Dow Jones Futures gained 0.32% and Nasdaq 100 Futures rose 0.29%.

Major indices in the US declined on Tuesday amid renewed investor fears of the Fed continuing to raise interest rates as worries revolving around further banking crises were allayed. Meanwhile, Treasury yields and gold prices rose, drawing support from a weaker US dollar .

Nasdaq Composite declined 0.45%, Dow Jones fell 0.12% and S&P 500 lost 0.16%.

Asian markets advanced on Wednesday, following an over 15% rally in Alibaba (NYSE: BABA )'s stock as the behemoth announced its plans to split into six units, with potential fundraising and listings for most of them, while fears of a banking contagion ebbed in the session.

At 8:31 am, South Korea’s KOSPI dipped 0.15%, Japan’s Nikkei 225 gained 0.39%, China’s Shanghai Composite slipped 0.19%, Hong Kong’s Hang Seng rallied 2.18%, and Australia's ASX 200 climbed 0.18%.

Oil prices rose on Wednesday, as disruptions in Kurdish crude shipments and a potentially large draw in U.S. inventories pointed to tighter supply in the near term. It also took some support from improved sentiment towards the banking sector.

Brent crude climbed to $78.3/barrel and WTI Futures rose 0.5% to $73.57 a barrel. Natural Gas Futures dipped 0.14%.

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