SGX Nifty Jumps 155.5 Pts in Pre-Open: D-Street New Week Opening Triggers

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.84% or 155.5 points higher at 9 am on Monday, tracking strong global cues and indicating a higher opening on Dalal Street. 

Further, the Dow Jones Futures climbed 0.2% and Nasdaq 100 Futures rose 0.47%.

Major US indices jumped on Friday as the debt ceiling negotiations progressed and chip stocks rose sharply for the second session over an optimistic outlook on artificial intelligence. 

Nasdaq Composite rallied 2.19% and S&P surged 1.3%, registering their highest closing levels in nine months, while Dow Jones jumped 1%, ending a five-day losing streak on Friday.

President Biden and congressional Republican Kevin McCarthy reached a tentative deal to raise the $31.4 trillion US debt ceiling over the weekend. 

Asian shares moved higher on Monday following a tentative deal struck on raising the US debt ceiling, with the bill likely to be voted on later this week. South Korean markets remained closed on Monday.

At 8:55 am, Japan’s Nikkei 225 surged 1.32%, Hong Kong’s Hang Seng index declined 0.36%, China’s Shanghai Composite traded flat and Australia’s ASX 200 gained 1.1%.

Oil prices rose on Monday as US lawmakers reached a provisional agreement to raise the debt ceiling, with the focus now turning to key Chinese data this week for cues on the world’s largest oil importer. 

Brent crude advanced 0.8% to $77.6/barrel and WTI Futures jumped 0.92% to $73.34 a barrel while writing. Natural Gas Futures added 0.54%.