Street’s Opening Amid Strong Global Cues Ahead of FOMC Speech & Sept F&O Expiry

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Street’s Opening Amid Strong Global Cues Ahead of FOMC Speech & Sept F&O Expiry
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.84% or 142 points higher at 8:42 am on Thursday amid strong global cues, indicating a positive opening on Dalal Street.

Investors will look forward to the initial jobless claims  and FOMC Member Bullard's  speech released later in the day. Further, the market might witness volatility today, induced by the monthly expiry of Futures & Options contracts during the day.

Further, the Dow Jones Futures dipped 0.12% and Nasdaq 100 Futures declined 0.3%.

Major indices on Wall Street made sharp gains after tumbling for multiple sessions on Wednesday, thanks to a dip in US Treasury bond yields from multi-year highs that lifted rate-sensitive growth stocks.

The S&P 500 index posted its first gain in seven sessions and highest single-day gain since Aug 10 after falling to its lowest since late 2020.

Nasdaq Composite jumped 2.05%, Dow Jones surged 1.88% and S&P 500 rallied 1.97%.

Stocks across Asian markets advanced on Thursday, tracking an overnight rally on Wall Street after the BoE’s emergency bond-buying programme.

At 8:40 am, Japan’s Nikkei 225 was up 0.25%, South Korea’s KOSPI surged 1.02% each, China’s Shanghai Composite gained 0.4%, Hong Kong’s Hang Seng index jumped 1.09% and Australia's ASX 200 soared 1.8%.

Oil prices slipped on Thursday amid a strengthening US dollar and economic concerns. Brent crude fell 0.4% to $87.7/barrel and WTI Futures dipped 0.5% to $81.77/barrel at the time of writing. Natural Gas Futures surged 0.65%.

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