SGX Nifty Sours, New Week Opening Amid a Spate of Global Cues

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SGX Nifty Sours, New Week Opening Amid a Spate of Global Cues
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.5% or 85 points lower at 8:20 am on Monday, indicating a lower opening on Dalal Street. 

However, the Dow Jones Futures gained 0.3% and Nasdaq 100 Futures rose 0.32%.

Major indices in the US fell on Friday, led by a string of banking crises and possibilities looming of a recession. Financial stocks led the slide, with some analysts calling the market’s sell-off a ‘bit of an overreaction’.

Nasdaq Composite dropped 0.74%, Dow Jones tumbled 1.19% and S&P 500 tanked 1.1%. The Nasdaq and Dow posted weekly declines. 

Asian markets traded mixed on Monday, following a weekend rescue deal for Credit Suisse (SIX: CSGN ) after the largest banking group in Switzerland, UBS Group AG (SIX: UBSG ) agreed to acquire the turmoil-hit banking major in a historic $3.23 billion all-share.

At 8:19 am, Japan’s Nikkei 225 fell 0.84%, South Korea’s KOSPI dropped 0.27%, China’s Shanghai Composite gained 0.4%, Hong Kong’s Hang Seng tumbled 1.85%, and Australia's ASX 200 tanked 0.83%.

Oil prices recouped recent losses on Monday, thanks to new liquidity measures announced by major central banks, along with allaying fears following the crisis-hit Swiss lender Credit Suisse’s takeover over the weekend.

Brent crude traded at $73.3/barrel and WTI Futures at $ 66.9 a barrel. Natural Gas Futures declined 0.55%. Both contracts witnessed their worst weekly loss this year and tanked over 10% last week.

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  • makarand Nnn @makarand Nnn
    This is what happens when you hire people on biased approach. No content curation and wrong information goes across. She claims SGX has soared when it actually has dipped. People need to be ashamed of themselves to not go through the content before it goes by their name.
    Like 1
    • Varun Yal @Varun Yal
      Sgx nifty has become sour , not soar😂😂
      Like 1
    • Malvika Gurung @Malvika Gurung
      Makarand i would really advise you to at least read the first paragraph of an article if financial jargons are too difficult for you to understand in the title. Good luck.
      Like 1

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