Realty stocks made highest gains this year
The SGX Nifty indicates a negative start for the broader index with a loss of 71 points on Monday amid mixed cues from markets world over as investors watch out for macro data from China and views of Fed speakers
The market is likely to open marginally lower on Monday as the SGX Nifty indicates a negative start for the broader index with a loss of 71 points after opening the session at 18,250. SGX futures touched a high of 18,256 in early trade on May 15.
The BSE Sensex gained 123 points to close at 62,027 in the previous session, while the Nifty 50 closed 18 points higher at 18,314. The Nifty50 traded comfortably higher than its 200-day moving average of 17,886 and is expected to build on the recent momentum.
US Markets
The S&P 500 fell on Friday as concerns around the US economy dampened investor sentiment. The Dow Jones Industrial Average dropped 8.89 points lower, or 0.03 percent, to close at 33,300.62. The Nasdaq Composite fell 0.35 percent, ending the day at 12,284.74. The S&P 500 slipped 0.16 percent, closing at 4,124.08.
European Markets
European stock markets closed higher Friday despite a downbeat week, as investors assessed the state of play across first-quarter earnings and economic data. The pan-European Stoxx 600 closed 0.4 percent higher, with banks higher by 0.8 percent and oil and gas stocks gaining 1.5 percent. Auto stocks dropped 0.7 percent. FTSE closed 0.31 percent higher at 7754. DAX closed 0.5 percent higher at 15913. CAC 40 Index closed 0.45 percent lower at 7414.
Asian markets
Asia-Pacific markets are trading mixed after two out of three major U.S. indexes recorded a second straight week of losses, fueled by concern over the US debt ceiling and disappointing economic data. US President Joe Biden and congressional leaders postponed a meeting set for Friday to the following week.
Australia’s S&P/ASX 200 opened marginally lower, along with South Korea’s Kospi and Kosdaq, which lost 0.24 percent and 1.02 percent respectively. Japan’s Nikkei 225 was up 0.51 percent, with the Topix also 0.5 percent higher on Monday. Hong Kong’s Hang Seng index looks set for a lower open, with contracts tied to the index at 19,421 compared to the HSI’s last close of 19,627.