SGX Nifty Pointing Higher for Stocks in India as Asian Markets Are Mixed

In opening market trading Monday, the SGX Nifty is higher by 13 points with stocks mixed in trading for the Asian markets. The high resistance level for Monday is 8,314.17 and the low support level is 8,170.17.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing higher for stocks in India on Monday. On Friday the NSE Nifty was higher, closing at 8,220.80 for a gain of 1.85 points or 0.02 percent. The BSE Sensex was lower Friday with a loss of -0.11 points to close at 26843.03. For the week, stocks in India ended higher. The NSE Nifty gained 0.79 percent and the S&P BSE Sensex gained 0.71 percent. In Friday’s trading, stock sectors in India were mixed. Banking and auto stocks led gains while consumer durables and capital goods led losses. The S&P BSE Bankex closed at 20220.18 for a gain of 165.02 points. The S&P BSE Auto Index closed at 19418.33 for a gain of 86.24 points. The S&P BSE Consumer Durables Index closed at 11442.46 for a loss of -204.25 points. The S&P BSE Capital Goods Index closed at 14360.35 for a loss of -130.79 points.

Stocks leading gains on Friday included Bajaj Auto Ltd, Hero MotoCorp Ltd. and TVS Motor Co. Ltd. Agriculture stocks were also higher Friday as the weather office reported monsoon rains would be 106 percent of the long-term average. Agriculture company, Monsanto India Ltd. gained 3.07 percent on Friday.

In other Asian markets on Friday stocks were mostly higher. China’s Shanghai Composite closed at 2938.68 for a gain of 13.45 points or 0.46 percent. Hong Kong’s Hang Seng Index closed at 20947.24 for a gain of 88.02 points or 0.42 percent. Japan’s Nikkei closed at 16642.23 for a gain of 79.68 points or 0.48 percent.

In Europe, market indexes were mostly lower on Friday. The Stoxx Europe 600 closed at 341.29 for a loss of -3.06 points or -0.89 percent. The Stoxx Europe 50 closed at 2850.77 for a loss of -26.72 points or -0.93 percent. France’s CAC 40 closed at 4421.78 for a loss of -44.22 points or -0.99 percent. Germany’s DAX closed at 10103.26 for a loss of -104.74 points or -1.03 percent. The FTSE 100 Index closed at 6209.63 for a gain of 24.02 points or 0.39 percent. The FTSE 250 closed at 17067.93 for a loss of -8.33 points or -0.05 percent.

In the U.S., the leading stock indexes were mostly lower Friday after a weaker than expected jobs report. The Dow Jones Industrial Average closed at 17807.06 for a loss of -31.50 points or -0.18 percent. The S&P 500 was also down, closing at 2099.13 for a loss of -6.13 points or -0.29 percent. The Nasdaq Composite closed lower at 4942.52 for a loss of -28.85 points or -0.58 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000, closing at 1164.13 for a loss of -6.45 points or -0.55 percent; the S&P 600 closing at 709.55 for a loss of -3.66 points or -0.51 percent; the S&P 400 Mid-Cap Index closing at 1500.90 for a loss of -6.19 points or -0.41 percent; the Russell 3000 closing at 1238.82 for a loss of -4.15 points or -0.33 percent; and the Dow Jones U.S. Select Dividend Index closing at 596.99 for a gain of 2.10 percent or 0.35 percent.

Julie Young

julie@sgxnifty.org

Julie Young is a senior Market Reporter and Analyst

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