SGX Nifty Dips 38 Pts, D-Street’s Opening Cues on Tuesday

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SGX Nifty Dips 38 Pts, D-Street’s Opening Cues on Tuesday
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.2% or 38 points lower at 8:47 am on Tuesday, tracking mixed global cues and indicating a slightly lower opening on Dalal Street.

Further, the Dow Jones Futures and Nasdaq 100 Futures traded flat.

Major US indices declined on Monday as market vigour faded amid investor concerns about the Federal Reserve’s probable decision to pause its interest rate hike at the upcoming policy meeting.

S&P 500 ended 0.2% lower after hitting an over nine-month high in the previous session on Friday following a report that wage growth moderated in May.

Nasdaq Composite dipped 0.09% and Dow Jones declined 0.59% on Monday.

Asian shares traded mostly higher on Tuesday despite sell-offs on Wall Street in the overnight session, however, remaining cautious about the Fed’s amid interest rate hike step going ahead.

At 8:50 am, Japan’s Nikkei 225 gained 0.41%, South Korea’s KOSPI rose 0.54%, Hong Kong’s Hang Seng index surged 0.9%, China’s Shanghai Composite advanced 0.1% and Australia’s ASX 200 fell 0.47%.

Oil prices declined on Tuesday as optimism over more supply cuts by Saudi Arabia and OPEC was fizzled out by persistent concerns over slowing economic growth and weakening demand.

Read Also: OPEC+ Meeting Brief: Saudi to Slash Oil Output in July, Members Agree on 2024 Deal

Brent crude fell 0.5% to $76.17/barrel and WTI Futures fell 0.8% to $71.58 a barrel in early Asian trade. Natural Gas Futures traded flat.

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  • Expert Voices @Expert Voices
    Big fall expected . below 18400 chances
    Like 2

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