SGX Nifty Higher after Holiday Close

In opening market trading Thursday, the SGX Nifty is higher by 36 points and Asian markets are trading lower. The high resistance level for the SGX Nifty on Thursday is 8,388.33 and the low support level is 8,206.83.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing higher for stocks on Thursday after stocks were closed in Singapore, India, Indonesia, the Philippines and Malaysia on Wednesday for a holiday.

On Tuesday, stocks in India ended the day lower. The NSE Nifty closed at 8335.95 for a loss of -34.75 points or -0.42 percent. The BSE Sensex was also lower at 27166.87 for a loss of -111.89 points or -0.41 percent. Most all sectors were lower Tuesday in India. Stock sectors leading losses included auto, banking, information technology and energy. The S&P BSE Auto Index was lower at 19686.25 for a loss of -217.94 points. The S&P BSE Bankex was lower at 20647.37 for a loss of -94.33 points. The S&P BSE Information Technology Index was lower at 11175.4 for a loss of -56.58 points. The S&P Oil & Gas Index was lower at 10095.03 for a loss of -50.27 points.

Stocks Tuesday closed lower after six days of gains and appear likely to regain some of Tuesday’s losses on Thursday. Stocks lower on Tuesday included Tata Motors Ltd. and GAIL. On Tuesday, fertilizer companies also led losses after retail prices were lowered by the government. Fertilizer companies lower in trading on Tuesday included Coromandel International and Zuari Agro Chemicals.

In Asian market trading on Wednesday, China’s Shanghai Composite was higher at 3017.29 for a gain of 10.90 points or 0.36 percent. Hong Kong’s Hang Seng Index was lower at 20495.29 for a loss of -255.43 points or -1.23 percent. Japan’s Nikkei was lower at 15378.99 for a loss of -290.34 points or -1.85 percent.

In Europe, stocks were lower on Wednesday. The Stoxx Europe 600 was lower at 318.76 for a loss of -5.41 points or -1.67 percent. The Stoxx Europe 50 was lower at 2735.99 for a loss of -47.04 points or -1.69 percent. The Euro Stoxx 50 was lower at 2761.37 for a loss of -51.51 points or -1.83 percent. France’s CAC 40 was lower at 4085.30 for a loss of -78.12 points or -1.88 percent. Germany’s DAX was lower at 9373.26 for a loss of -159.35 points or -1.67 percent. The FTSE 100 was lower at 6463.59 for a loss of -81.78 points or -1.25 percent. The FTSE 250 was lower at 15669.71 for a loss of -64.97 points or -0.41 percent.

In the U.S., the leading indexes were higher on Wednesday. The Dow Jones Industrial Average closed at 17918.62 for a gain of 78.00 points or 0.44 percent. The S&P 500 was also higher, closing at 2099.73 for a gain of 11.18 points or 0.54 percent. The Nasdaq Composite closed higher at 4859.16 for a gain of 36.26 points or 0.75 percent.

Other notable index closes included the small-cap Russell 2000, higher at 1147.44 for a gain of 7.98 points or 0.70 percent; the S&P 600 closing at 704.31 for a gain of 4.25 points or 0.61 percent; the S&P 400 Mid-Cap Index closing at 1489.95 for a gain of 7.65 points or 0.52 percent; the Russell 3000 closing at 1236.45 for a gain of 6.70 points or 0.54 percent; and the Dow Jones U.S. Select Dividend Index closing at 611.78 for a gain of 2.92 points or 0.48 percent.

Julie Young

Julie Young is a senior Market Reporter and Analyst

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