SGX Nifty Pointing Higher for Stocks in India

In opening market trading Tuesday, the SGX Nifty is higher by 37.50 points as Asian stocks are mostly higher. On Monday, the SGX Nifty was higher by 0.44 percent at 8,557.00. The high for the day was 8,605.50 and the low for the day was 8,510.00. The high resistant level for Tuesday is 8,705.67 and the low support level is 8,423.67.

As a leading indicator for the NSE Nifty, the SGX Nifty is pointing higher for stocks in India. On Monday, stocks in India were lower. The NSE Nifty was lower at 8508.70 for a loss of -32.70 points or -0.38 percent. The BSE Sensex was lower at 27746.66 for a loss of -89.84 points or -0.32 percent. Most stock sectors in India were lower Monday with energy, consumer durables and metals leading losses. The S&P Oil & Gas Index was lower at 10026.59 for a loss of -164.52 points. The S&P BSE Consumer Durables Index was lower at 12131.63 for a loss of -117.48 points. The S&P BSE Metals Index was lower at 9270.85 for a loss of -97.35 points. The information technology and automotive sectors were the only two sectors with gains on Monday. The S&P BSE Auto Index was higher at 20494.7 for a gain of 70.93 points. The S&P BSE Information Technology Index was higher at 10639.84 for a gain of 31.44 points.

Stocks leading losses included ICICI Bank, Infosys, Wipro Ltd. and MindTree. Stocks leading gains included Reliance Industries and Axis Bank.

In Asia, stocks were mixed on Monday. China’s Shanghai Composite Index was lower at 3043.56 for a loss of -10.73 points or -0.35 percent. Hong Kong’s Hang Seng Index was higher at 21803.18 for a gain of 143.93 points or 0.66 percent. India’s S&P BSE Sensex India was lower at 27746.66 for a loss of -89.84 points or -0.32 percent. Japan’s stock market was closed on Monday.

In Europe stocks were also mixed. The Stoxx Europe 600 was higher at 338.70 for a gain of 0.78 points or 0.23 percent. The Stoxx Europe 50 was lower at 2864.87 for a loss of -3.32 points or -0.12 percent. France’s CAC 40 was lower at 4357.74 for a loss of -14.77 points or -0.34 percent. Germany’s DAX was lower at 10063.13 for a loss of -3.77 points or -0.04 percent. The FTSE 100 was higher at 6695.42 for a gain of 26.18 points or 0.39 percent. The FTSE 250 was higher at 16867.66 for a gain of 140.39 points or 0.84 percent.

In the U.S. the leading market indexes were higher on Monday. For the day the Dow Jones Industrial Average closed at 18533.05 for a gain of 16.50 points or 0.09 percent. The S&P 500 closed at 2166.89 for a gain of 5.15 points or 0.24 percent. The Nasdaq Composite was also higher Monday, closing at 5055.78 for a gain of 26.19 points or 0.52 percent.

Other notable index closes in the U.S. included the small-cap Russell 2000, closing higher for the day at 1207.91 for a gain of 2.60 points or 0.22 percent. The S&P 600 closing at 741.31 for a gain of 0.59 points or 0.08 percent; the S&P 400 Mid-Cap Index closing at 1545.07 for a gain of 1.44 points or 0.09 percent; the Russell 3000 Index closing at 1278.31 for a gain of 2.98 points or 0.23 percent; and the Dow Jones U.S. Select Dividend Index closing at 624.81 for a loss of -1.03 points or -0.16 percent.

Julie Young

Julie Young is a senior Market Reporter and Analyst

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