Pre-market action: SGX Nifty signals a negative start; Asian shares slip in early trade - Financial Daily News Site

Pre-market action: SGX Nifty signals a negative start; Asian shares slip in early trade

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Asian shares edge up with Wall Street futures, mood fragile

Asian shares were trying to sustain a rare rally on Monday as Wall Street futures made early gains, perhaps hoping a U.S. holiday would provide a break from recent selling, though worries about global recession were never far away. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1% in thin trade. Tokyo’s Nikkei added 0.6%, having been underpinned recently by a sharp fall in the yen which boosted exporters.

SGX Nifty signals a flat start

Nifty futures on the Singapore Exchange traded 7 points, or 0.05 per cent, higher at 15,322.50, signaling that Dalal Street was headed for a flat start on Monday.

Tech View: Analysts unsure of recovery ahead

Nifty50 on Friday fell for the sixth straight day and formed an indecisive Doji candle on the daily chart. On the weekly scale, it formed a long bearish candle. Analysts are unsure whether there could be any recovery from here. The trend remains negative for now, they said.

Oil wobbly after near 6% slump on economic concerns

Oil prices wobbled early on Monday as investors refocused on tight supplies, though sentiment was still fragile after 6% slump in the previous session amid concerns about slowing global economic growth and fuel demand. Brent crude futures gained 20 cents, or 0.2%, to $113.32 a barrel by 0105 GMT, after rising as much as 1% earlier. Front-month prices tumbled 7.3% last week, its first weekly fall in five.

Tokyo stocks open up after mixed US close

Tokyo stocks opened higher on Monday after a mixed close on Wall Street as fears rise that interest rate hikes by central banks could trigger a global recession. The benchmark Nikkei 225 index was up 0.71 percent, or 183.42 points, at 26,146.42 in early trade, while the broader Topix index was up 0.51 percent, or 9.38 points, at 1,845.28.

US stocks end with a modest bounce on Friday

US stocks closed with a modest bounce on Friday but still suffered the biggest weekly percentage decline in two years as investors wrestled with the growing likelihood of a recession while global central banks tried to stamp out inflation. The Dow Jones Industrial Average fell 38.29 points, or 0.13%, to 29,888.78, the S&P 500 gained 8.07 points, or 0.22%, at 3,674.84 and the Nasdaq Composite added 152.25 points, or 1.43%, at 10,798.35.

Rupee rises 5 paise to 78.05 against US dollar

The rupee advanced 5 paise to settle at 78.05 against the US dollar on Friday amid a muted trend in domestic equities and unabated foreign capital outflows. A strong dollar overseas and higher crude prices also capped the gains, forex dealers said.

Sensex, Nifty on Friday

The 30-share pack lost 135.37 to close at 51,360.42. Its broader peer Nifty50 fell below the 15,300 mark. For the week, the Sensex fell around 5.19 per cent, whereas Nifty50 dropped 5.36 per cent, logging their worst week in nearly 2 years.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

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