SGX Nifty Drops Ahead of India WPI, D-Street Opening Cues for New Week
By Malvika Gurung
Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.22% or 40 points lower at 8:41 am on Monday, indicating a lower opening on Dalal Street.
Further, the and traded flat, but with a negative bias.
India is set to release its data for April 2023 in the afternoon today.
Major US indices ended lower on Friday after mega-cap stocks declined, following the falling to a six-month low. For the week, the indices dropped up to 0.4%, as investor concerns grew that the Fed’s aggressive hike could tip the economy into recession.
lost 0.35%, dipped 0.03% and dropped 0.16% on Friday.
Asian shares began the new week on a cautious note ahead of China’s policy rate decision economic data lined up in the week, along with a spate of US Fed officials set to speak, including .
Read Also: India WPI, Powell’s Speech Among Key Economic Triggers to Set Stage for Market This Week
At 8:37 am, South Korea’s declined 0.46%, Japan’s rose 0.4%, Hong Kong’s traded flat, China’s fell 0.83% and Australia’s dropped 0.17%.
Oil prices declined on Monday after falling for four consecutive weeks on concerns over slowing economic growth. Further, strength in the also kept prices under pressure, as markets dialled back bets that the Fed will trim interest rates this year, noted an Investing.com report.
fell 0.76% to $73.6/barrel and sank to $69.56 a barrel while writing. slipped 0.22%.