Nifty’s Opening Ahead of Powell’s Speech: Dow Futures, SGX Nifty Up

The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.54% or 95.5 points higher at 8:43 am on Tuesday, indicating a positive opening on Dalal Street.

Further, the rose 0.17% and advanced 0.3%. Major indices on Wall Street dipped on Monday, following a blowout jobs report that renewed concerns about the Fed continuing to hike interest rates for longer than anticipated after services activity in January remained strong along with robust job growth.

Traders will look out for Fed Chair later in the day to know the central bank’s rhetoric and if it continues its transformation from hawk to dove.

tanked 1%, slipped 0.11% and declined 0.67%.

Asian markets brushed off lower sentiments from Wall Street’s overnight session and traded higher on Tuesday, after losses in the previous session, while the remained high amid prospects of rate hikes to continue ahead for longer.

At 8:45 am, Japan’s gained 0.22%, South Korea’s rallied 2.42%, China’s climbed 0.2%, Hong Kong’s surged 0.91% and Australia’s traded flat%. 

Oil prices surged on Tuesday as markets held out for a swift recovery in Chinese demand this year, along with supply concerns after an earthquake shuttered a major export terminal in Turkey.

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surged 1.01% at $81.8/barrel and jumped to $74.95/barrel. Futures slipped 0.3%.

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