SGX Nifty Tick in Red: Global Cues Impacting D-Street’s Opening

  • Stock Market News
SGX Nifty Tick in Red: Global Cues Impacting D-Street’s Opening
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.41% or 77.5 points lower at 8:56 am on Tuesday, indicating a lower opening on Dalal Street.

Further, the Dow Jones Futures gained 0.2%, while Nasdaq 100 Futures rose 0.13%.

Major indices on Wall Street fell on Monday, following better-than-expected services data that raised concerns about whether the US Fed would raise interest rates for longer. Further, the EV maker giant Tesla (NASDAQ: TSLA ) slumped 6.4% on reports of cutting Dec output at its Shanghai plant by over 20% from last month, weighing heavily on the tech-heavy index Nasdaq .

Nasdaq Composite plunged 1.93%, S&P 500 fell 1.79% and Dow Jones declined 1.4%.

Stocks across Asian markets traded mostly lower on Tuesday, following an overnight sell-off on Wall Street on fears that the Fed could continue raising interest rates on an unexpectedly better performance of the US services industry activity.

At 8:55 am, South Korea’s Kospi declined 0.54%, Japan’s Nikkei gained 0.29%, Hong Kong’s Hang Seng tanked 1%, China’s Shanghai Composite and Australia's ASX 200 traded flat.

Oil prices climbed on Tuesday amid bargain buying and as markets bet on a recovery in Chinese demand, while prospects of the Fed raising interest rates capped the gains, keeping investors on edge. 

Brent crude rose 0.75% to $83.3/barrel, while WTI Futures surged to $77.57/barrel. Natural Gas Futures slipped 0.25%.

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