SGX Nifty Lower with Stocks Continuing Losses

In opening market trading Friday, the SGX Nifty is lower by 4.5 points as stocks are trending lower in Asia. The high resistance level for the SGX Nifty on Friday is 8,404.00 and the low support level is 8,068.00.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing lower for stocks in India on Friday. On Thursday the NSE Nifty was lower, closing at 8203.60 for a loss of -69.45 points or -0.84 percent. The S&P BSE Sensex was also lower at 26763.46 with a loss of -257.20 points or -0.95 percent. Trading for Thursday was mixed with losses led by stocks in the S&P BSE Information Technology Index which closed at 11324.84 for a loss of -251. The S&P BSE Fast Moving Consumer Goods Index was also lower at 8181.95 for a loss of -133.4 points.

Stock volumes traded mostly lower for the day on Thursday due to the Indian monsoon. Global concerns over rates in the U.S. and the U.K exit vote also weighed on stocks for the day. Stocks leading the day’s losses included Infosys, down 4.3 percent, Asian Paints down approximately 2 percent and Dr. Reddy’s Laboratories down 2 percent.

In other Asian markets, stocks traded mostly lower on Thursday. China’s Shanghai Composite was closed. Hong Kong’s Hang Seng Index was also closed. Japan’s Nikkei was lower, closing at 16668.41 for a loss of -162.51 points or -0.97 percent.

In Europe market indexes were also lower. The Stoxx Europe 600 closed at 341.25 for a loss of -3.31 points or -0.96 percent. The Stoxx Europe 50 was lower at 2851.78 for a loss of -28.03 points or -0.97 percent. France’s CAC 40 was lower at 4405.61 for a loss of -43.12 points or -0.97 percent. Germany’s DAX was lower at 10088.87 for a loss of -128.16 points or -1.25 percent. The FTSE 100 Index was lower at 6231.89 for a loss of -69.63 points or -1.10 percent. The FTSE 250 Index was lower at 17111.59 for a loss of -66.26 points or -0.39 percent.

U.S. market indexes were also lower for the day. The Dow Jones Industrial Average closed at 17985.19 for a loss of -19.86 points or -0.11 percent. The S&P 500 was also down, closing at 2115.48 for a loss of -3.64 points or -0.17 percent. The Nasdaq Composite closed lower at 4958.62 for a loss of -16.03 points or -0.32 percent.

Other notable index closes on Thursday included the small-cap Russell 2000, closing at 1181.20 for a loss of -7.75 points or -0.65 percent; the S&P 600 closing at 722.51 for a loss of -3.87 points or -0.53 percent; the S&P 400 Mid-Cap Index closing at 1520.98 for a loss of -4.16 points or -0.27 percent; the S&P 100 closing at 933.58 for a loss of -1.69 points or -0.18 percent; the Russell 3000 closing at 1249.27 for a loss of -2.93 points or -0.23 percent; the Russell 1000 closing at 1172.03 for a loss of -2.34 points or -0.20 percent; and the Dow Jones U.S. Select Dividend Index closing at 604.77 for a gain of 0.67 points or 0.11 percent.

Julie Young

julie@sgxnifty.org

Julie Young is a senior Market Reporter and Analyst

You may also like...

Discussion on SGX Nifty Lower with Stocks Continuing Losses