SGX Nifty Pointing Lower for Stocks in India

In opening market trading Thursday, the SGX Nifty is lower by 3.5 points as global markets are mixed. On Wednesday in Singapore the SGX Nifty closed at 8513.50 down -0.04 percent. The high for the day was 8560.00 and the low for the day was 8503.00. The high resistance level for the SGX Nifty on Thursday is 8581.67 and the low support level is 8460.17.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing lower for stocks in India on Thursday. On Wednesday, stocks in India were mixed. The NSE Nifty was down, closing at 8519.50 for a loss of -1.55 points or -0.02 percent. The BSE Sensex was higher with a closing value of 27815.18 for a gain of 7.04 points or 0.03 percent. In India, metals, technology and energy led gains for the day on Wednesday while auto and consumer durables led losses.

The S&P BSE Metals Index was higher at 9283.1 for a gain of 166.59 points. The S&P BSE Information Technology Index was higher at 11226.77 for a gain of 106.6. The S&P Oil & Gas Index was higher at 10163.61 for a gain of 36.91 points. The S&P BSE Auto Index was lower at 20118.84 for a loss of -135.96 points. The S&P BSE Consumer Durables Index was lower at 12039.05 for a loss of -98.64 points.

Stocks leading gains in India on Wednesday included Oil and Natural Gas Corp Ltd., Oil India Ltd. and Indian Oil Corp Ltd. Stocks leading losses included Crompton Greaves, NBCC (India) Ltd., Yes Bank Ltd. and Axis Bank Ltd.

In Asia, stocks were mostly higher on Wednesday. China’s Shanghai Composite was higher at 3060.69 for a gain of 11.31 points or 0.37 percent. Hong Kong’s Hang Seng Index was higher at 21322.37 for a gain of 97.63 points or 0.46 percent. Japan’s Nikkei was higher at 16231.43 for a gain of 135.78 points or 0.84 percent.

In Europe, stocks were mostly lower Wednesday. The Stoxx Europe 600 was lower at 335.83 for a loss of -0.43 points or -0.13 percent. The Stoxx Europe 50 was lower at 2846.01 for a loss of -9.78 points or -0.34 percent. France’s CAC 40 was higher at 4335.26 for a gain of 3.88 points or 0.09 percent. Germany’s DAX was lower at 9930.71 for a loss of -33.36 points or -0.33 percent. The FTSE 100 was lower at 6,670.40 for a loss of -10.29 points or -0.15 percent. The FTSE 250 was also lower at 16,751.02 for a loss of -56.05 points or -0.33 percent.

In the U.S., the leading stock indexes were mostly higher with new highs from the Dow Jones Industrial Average and S&P 500. On Wednesday, the Dow Jones Industrial Average closed at 18372.12 for a gain of 24.45 points or 0.13 percent. The S&P 500 closed at 2152.43 for a gain of 0.29 points or 0.01 percent. The Nasdaq Composite closed at 5005.73 for a loss of -17.09 points or -0.34 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000, closing at 1201.16 for a loss of -4.73 points or -0.39 percent; the S&P 600 closing at 739.28 for a loss of -0.95 points or -0.13 percent; the S&P 400 Mid-Cap Index closing at 1540.69 for a loss of -3.03 points or -0.20 percent; the S&P 100 closing at 951.02 for a gain of 0.03 points or 0.01 percent; the Russell 3000 closing at 1270.15 for a loss of -0.58 points or -0.05 percent; the Russell 1000 closing at 1191.62 for a loss of -0.21 points or -0.02 percent; and the Dow Jones U.S. Select Dividend Index closing at 623.57 for a gain of 0.97 points or 0.16 percent.

Julie Young

julie@sgxnifty.org

Julie Young is a senior Market Reporter and Analyst

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