SGX Nifty Pointing Higher with Continued Gains Expected for Indian Stocks

In opening market trading Thursday, the SGX Nifty is higher by 45.5 points. The high resistance level for Thursday is 8,146.17 and the low support level is 7,693.17.

As a leading indicator for stocks in India, the SGX Nifty is pointing higher for Thursday with continued gains expected from Wednesday. On Wednesday the NSE Nifty was higher at 7934.90 for a gain of 186.05 points or 2.40 percent. The BSE Sensex was higher at 25881.17 for a gain of 575.70 points or 2.28 percent.

All stock sectors were higher in India on Wednesday with banking stocks leading gains. The S&P BSE Bankex was higher at 19296.71 for a gain of 593.24 points. Capital goods, auto, technology and energy were also significantly higher for the day. Stocks leading gains for the day included Hindustan Unilever, up 2 percent, Hero MotoCorp, up 1 percent and Tech Mahindra, up 11 percent.

In other European markets on Wednesday, the FTSE 100 was higher at 6,262.85 for a gain of 43.59 points or 0.70 percent. The FTSE 250 was higher at 17,232.64 for a gain of 96.97 points or 0.57 percent. Germany’s DAX was higher at 10205.21 for a gain of 147.90 points or 1.47 percent. France’s CAC 40 was higher at 4481.64 for a gain of 50.12 points or 1.13 percent. The Stoxx Europe 600 was higher at 348.56 for a gain of 4.44 points or 1.29 percent. The Europe Dow was higher at 1571.34 for a gain of 26.69 or 1.73 percent.

In Asia, stock trading was mixed. Japan’s Nikkei was higher at 16757.35 for a gain of 258.59 points or 1.57 percent. Hong Kong’s Hang Seng Index was higher at 20368.05 for a gain of 537.62 points or 2.71 percent. In China, the Shanghai Composite was lower at 2815.09 for a loss of -6.58 points or -0.23 percent. The Asia Dow was higher at 2619.25 for a gain of 58.05 points or 2.27 percent.

U.S. market indexes were higher Wednesday. The Dow Jones Industrial Average was higher at 17,851.51 for a gain of 145.46 points or 0.82 percent. The Standard & Poor’s 500 was also higher at 2,090.54 for a gain of 14.48 points or 0.70 percent. The Nasdaq Composite was higher for the day at 4,894.89 for a gain of 33.84 points or 0.70 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000, higher at 1,141.02 for a gain of 5.72 points or 0.50 percent; the S&P 600 at 697.88 for a gain of 3.86 points or 0.56 percent; the S&P 400 Mid-Cap Index, at 1,481.20 for a gain of 9.71 points or 0.66 percent; the Russell 3000, at 1,231.34 for a gain of 8.44 points or 0.69 percent; the Russell 1000, at 1,157.12 for a gain of 8.11 points or 0.71 percent; and the Dow Jones U.S. Select Dividend Index, at 587.68 for a loss of 2.94 points or 0.50 percent.

Julie Young

Julie Young is a senior Market Reporter and Analyst

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