SGX Nifty Futures Signal A Positive Opening Post Long Weekend: Market Cues

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SGX Nifty Futures Signal A Positive Opening Post Long Weekend: Market Cues
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 0.34% or 60.5 points higher at 8:21 am on Tuesday, indicating a positive opening on Dalal Street after a long weekend. 

Further, the Dow Jones Futures traded flat and Nasdaq 100 Futures lowered 0.1%.

Major indices on Wall Street climbed on Tuesday, thanks to an upside in mega-cap growth stocks, on expectations that the Fed Reserve could achieve a less aggressive interest rate hike in the September monetary meeting.  

Share prices of heavyweights like Apple (NASDAQ: AAPL ) rose 0.3%, Tesla Inc (NASDAQ: TSLA ) jumped 3.1% and Microsoft Corp (NASDAQ: MSFT ) climbed 0.5%, giving a significant boost to indices S&P 500 and Nasdaq , as the U.S. Treasury yields eased.

Nasdaq Composite surged 0.62%, Dow Jones climbed 0.45% and S&P 500 advanced 0.4%. 

Stocks across Asian markets traded mostly higher on Tuesday, following a positive overnight session on Wall Street, while investors reacted to China's central bank paring key lending rates to boost demand as the economy slowed unexpectedly in July.

At 8:22 am, South Korea’s KOSPI rose 0.4%, Japan’s Nikkei traded flat, Hong Kong’s Hang Seng index advanced 0.11%, China’s Shanghai Composite climbed 0.34%, and Australia's ASX 200 was up 0.54%.

Oil fell on Tuesday, reacting to the Chinese economic data, the largest crude importer, as concerns of a potential global recession led to fears of a curtailing demand. Brent crude declined 0.92% to $94.3/barrel and WTI Futures tanked 0.65% at $88.8/barrel. Natural gas Futures advanced 0.3%.

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