SGX Nifty Pointing Higher for Stocks in India

In opening market trading Tuesday, the SGX Nifty is higher by 1.50 points as market indexes are likely to regain some of the previous day’s losses. The high resistance level for Tuesday is 7,866.33 and the low support level is 7,632.33.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing higher for stocks in India on Tuesday after losses on Monday. On Monday, the NSE Nifty was down at 7,731.05 for a loss of -18.65 points or -0.24 percent. The BSE Sensex was also lower at 25,230.36 for a loss of -71.54 or -0.28 percent. Most all market sectors were lower on Monday except for the S&P BSE Fast Moving Consumer Goods Index and the S&P BSE Consumer Durables Index. For the day, healthcare and capital goods led stocks lower.

Stocks actively traded for the day included ITC and NALCO. ITC was up 4.99 percent for the day after reporting its earnings. NALCO’s stock was also higher after a potential increase in buybacks was expected following the firm’s board meeting.

In other Asian markets, stock trading was mixed. Japan’s Nikkei was down -81.75 points or -0.49 percent to 16,654.60. Hong Kong’s Hang Seng Index was lower at 19,809.03 for a loss of -43.17 points or -0.22 percent. The Shanghai Composite in China was higher at 2,843.65 for a gain of 18.16 points or 0.64 percent. The Asia Dow gained for the day with a closing value of 2,581.98, gaining 12.09 points or 0.47 percent.

In European markets on Monday, the FTSE 100 was lower by -19.89 points or -0.32 percent to close at 6,136.43. The FTSE 250 was higher at 17,031.74 for a gain of 109.68 points or 0.65 percent. France’s CAC 40 was lower at 4,325.10 for a loss of -28.80 points or -0.66 percent. The Stoxx Europe 600 was lower at 336.69 for a loss of -1.32 points or -0.39 percent. The Europe Dow was lower at 1,517.84 for a loss of -8.11 points or 0.53 percent.

U.S. market indexes were lower Monday. The Dow Jones Industrial Average was down -8.01 points or -0.05 percent to close at 17,492.93. The S&P 500 was also down, closing at 2,048.04 for a loss of -4.28 points or -0.21 percent. The Nasdaq Composite closed lower at 4,765.78 for a loss of -3.78 points or -0.08 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000 closing at 1,111.37 for a loss of -0.91 points or -0.08 percent; the S&P 600 closing at 679.49 for a loss of -1.40 points or -0.21 percent; the S&P 400 Mid-Cap Index closing at 1,446.44 for a loss of -3.67 points or -0.25 percent; the Russell 3000 closing at 1,205.67 for a loss of -2.41 points or -0.20 percent; and the Dow Jones U.S. Select Dividend Index closing at 578.04 for a loss of -1.85 points or -0.32 percent.

Julie Young

julie@sgxnifty.org

Julie Young is a senior Market Reporter and Analyst

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