SGX Nifty Pointing Higher for Continued Gains in Indian Stocks

In opening market trading Friday, the SGX Nifty is higher by 31 points as stocks in Asia are trading mixed. On Thursday in Singapore the SGX Nifty closed at 8611.50 for a gain of 0.36 percent. The SGX Nifty high for the day was 8587.00 and the low for the day was 8502.50. The high resistance level for the SGX Nifty on Friday is 8607.33 and the low support level is 8436.33.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing higher for stocks in India on Friday. On Thursday, stocks in India were higher. The BSE Sensex was higher at 27942.11 for a gain of 126.93 points or 0.46 percent. The NSE Nifty was higher at 8565.00 for a gain of 45.50 points or 0.53 percent. Most all stock sectors were higher with banking, consumer durables and capital goods stocks leading gains. The S&P BSE Bankex Index was higher at 21657.11 for a gain of 316.46 points. The S&P BSE Consumer Durables Index was higher at 12298.75 for a gain of 259.7 points. The S&P BSE Capital Goods Index was higher at 15476.64 for a gain of 154.69 points.

Stocks leading gains in India for Thursday included Dishman Pharmaceuticals, Chemicals Ltd., Punjab National Bank, Yes Bank, Titan Company, Gitanjali Gems and Tata Consultancy Services Ltd.

Stocks leading losses included Mahindra and Mahindra and Infosys Ltd.

In Asia, stocks traded mixed on Thursday. China’s Shanghai Composite was lower at 3054.02 for a loss of -6.67 points or -0.22 percent. Hong Kong’s Hang Seng Index was higher at 21561.06 for a gain of 238.69 points or 1.12 percent. Japan’s Nikkei was higher at 16385.89 for a gain of 154.46 points or 0.95 percent.

In Europe, stocks were mostly higher. The Stoxx Europe 600 was higher at 338.50 for a gain of 2.67 points or 0.80 percent. The Stoxx Europe 50 was higher at 2868.12 for a gain of 22.11 points or 0.78 percent. France’s CAC 40 was higher at 4385.52 for a gain of 50.26 points or 1.16 percent. Germany’s DAX was higher at 10068.30 for a gain of 137.59 points or 1.39 percent. The FTSE 100 was lower at 6654.47 for a loss of -15.93 points or -0.24 percent. The FTSE 250 was higher at 16788.04 for a gain of 37.02 points or 0.22 percent.

In the U.S., the leading indexes continued to reach new highs on Thursday. For the day the Dow Jones Industrial Average closed at 18506.41 for a gain of 134.29 points or 0.73 percent. The S&P 500 was also higher, closing at 2163.75 for a gain of 11.32 points or 0.53 percent. The Nasdaq Composite closed higher at 5034.06 for a gain of 28.33 points or 0.57 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000, higher at 1202.17 for a gain of 1.01 points or 0.08 percent; the S&P 600 closing at 739.46 for a gain of 0.18 points or 0.02 percent; the S&P 400 Mid-Cap Index closing at 1544.06 for a gain of 3.37 points or 0.22 percent; the S&P 100 closing at 956.63 for a gain of 5.61 points or 0.59 percent; the Russell 3000 Index closing at 1276.03 for a gain of 5.88 points or 0.46 percent; the Russell 1000 Index closing at 1197.51 for a gain of 5.88 points or 0.49 percent; and the Dow Jones U.S. Select Dividend Index closing at 623.86 for a gain of 0.29 points or 0.05 percent.

Julie Young

Julie Young is a senior Market Reporter and Analyst

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