NEW DELHI: Dalal Street looks set to kick off the new week on a positive note, even though there is no slowdown in Covid infections and localized curbs by many states continue. US markets closed at records highs on Friday and major Asian Indices traded in the green this morning.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS SGX Nifty signals positive startNifty futures on the Singapore Exchange traded 135 points, or 0.91 per cent, higher at 15,003.50 signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty formed Doji on FridayNifty50 on Friday breached the 14,800 level and, in the process, decisively took out the 50-day moving average. The index formed a Doji candle on the daily chart, as it closed almost where it had opened. On the weekly scale, Nifty formed a long bullish candle, suggesting positive sentiment in the market.
Asian markets open strongAmong financial markets in Asia, Shanghai Composite traded 0.10 per cent lower at 3,415, South Korea’s Kospi rose 0.75 per cent to 3,220.80 while Hong Kong’s Hang Seng inched up 0.10 per cent to 28,657. Taiwan's TWSE index tanked 0.10 per cent to 17,267. Australia's ASX 200 jumped 1.12 per cent to 7,160.40. MSCI's broadest index of Asia-Pacific shares outside Japan was up by 0.49 per cent.
Wall Street rallies to record highsMajor Wall Street indices finished at fresh records Friday after disappointing US jobs data fueled confidence of continued fiscal and monetary support as the economy recovers from Covid-19. The S&P 500 gained 30.98 points, or 0.74 per cent to 4,232.60. The Dow Jones Industrial Average surged 229.23 points or 0.66 per cent to a new high of 34,777.76, while the tech-heavy Nasdaq was up by 119.39 points or 0.88 per cent to 13,752.24.
prices little changedOil prices were little changed as the COVID-19 crisis in India worsened, but prices were set for a weekly gain against the backdrop of optimism over a global economic recovery. Brent crude futures rose 19 cents to settle at $68.28 a barrel, while US crude futures gained 19 cents to settle at $64.90 a barrel.
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