Stock Market Today: The S&P BSE Sensex and NSE Nifty50 are expected to open higher on Monday, on bullish gains in thin trade throughout Asian markets following a solid handover from Wall Street, bolstered by Netflix and Alphabet’s parent company, Alphabet. At the last count, Singapore Exchange (SGX) Nifty futures – an early indication of the Nifty index — were trading 93.5 points, or 0.5 percent, higher at 18,138, indicating a bullish start on Dalal Street.
Asian shares in the green amid thin trade today following rebound on Wall Street
Equities in other major Asian markets open in the green on Monday, despite weak trade due to the Lunar Holiday in certain countries, following a good session on Wall Street on Friday led by Netflix and Google parent Alphabet. At this hour, MSCI’s broadest index of Asia Pacific shares outside Japan is up 0.3%.
Sensex fell 237 pts to 60,622, Nifty50 slipped below 18,050
Indian market indexes fell for the second consecutive session, weighed down by weakness in oil and gas, FMCG, and IT firms, but gains in financial stocks provided some assistance. Investors weighed earnings growth expectations against fears of a recession and more aggressive hikes in the world’s largest economy’s key interest rates.
Both headline indices ended the day down 0.4%. The Sensex fell 236.7 points to close at 60,621.8, bringing its total loss to 424 points in two sessions. The Nifty50 closed at 18,027.7, a loss of 80.2 points from its previous closing.
Stock Market Today: Asian shares up and oil prices fall
The dollar fell against its Group-of-10 rivals, while Japanese equities rose in light trade on Monday, with many major Asian financial hubs closed for Lunar New Year celebrations.
Oil prices fell in early trade on Monday, weighed down by the east Asian Lunar New Year holiday, but retained most of last week’s gains on the expectation of an economic revival in top oil importer China this year. Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, also down 0.5%, to $81.24 a barrel.
Stock Market Today: Euro nears nine-month peak
On Monday, the dollar was headed for its fourth straight session of losses against the euro, as more hawkish views on European interest rates clashed with market expectations for a less aggressive Federal Reserve. The euro advanced to $1.0870, closing in on its previous nine-month high of $1.08875. A break there would pave the path to a spike peak from April of last year at $1.0936.
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