Stock Market Live Updates: SGX Nifty signals a positive start; Asian shares trade higher – The Economic Times

Asian shares pin hopes on China opening, oil rallies

Asian shares edged higher on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, even if full freedom could be months away.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 44.5 points, or 0.24 per cent, higher at 18,869, signaling that Dalal Street was headed for a positive start on Monday.

Tech View: Nifty forms two back-to-back red candles

As traders booked profits in sync with the global market mood, the headline equity index Nifty formed a small red candle for the second consecutive day on the daily chart, indicating the resumption of minor profit booking in the market from all-time highs.

Tokyo stocks open lower after mixed US close

Tokyo stocks opened lower on Monday after a mixed close on Wall Street as markets assessed the implications of a solid jobs report for US monetary policy. The benchmark Nikkei 225 index was down 0.25 percent, or 70.56 points, at 27,707.34 in early trade, while the broader Topix index slipped 0.37 percent, or 7.15 points, to 1,946.83.

S&P 500 ends slightly lower after jobs report

The S&P 500 closed slightly lower on Friday, although major indexes rallied off their worst levels of the day, as the November payrolls report fueled expectations the Federal Reserve would maintain its path of interest rate hikes to combat inflation.

Oil rises after OPEC+ holds oil output targets, China eases COVID curbs

Oil prices inched up in early trade after OPEC+ nations reaffirmed their oil output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday.

Rupee falls 7 paise to close at 81.33 against US dollar

The rupee pared its initial gains to settle down by 7 paise at 81.33 against the US dollar on Friday as the support from weak dollar was negated by weak domestic markets and gains in crude oil prices.

Sensex, Nifty on Friday

The 30-share Sensex ended 416 points lower at 62,868 dragged by auto, banking and financial stocks, while its broader peer Nifty 50 ended below 18,700 level.

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