Stock Market Live Updates: SGX Nifty rises 88 points; Asian markets jump tracking Wall

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SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 88 points, or 0.56 per cent, higher at 15,860.50, signaling that Dalal Street was headed for a positive start on Monday.

Tech View: Nifty bulls lack strength

Nifty50 on Friday closed lower for straight sixth session. The index formed a bearish candle on the daily chart even as it managed to negate its lower high-low formation. On the weekly scale, the index formed a long bearish candle with a long upper wick, suggesting selling pressure at higher levels. The index has further gone into oversold territory but the bulls lack strength, said analysts.

Hong Kong stocks open higher

Hong Kong equities opened higher on Monday, following a Wall Street bounce sparked by a rally among tech-rich stocks. The Hang Seng rose 1.17 percent, or 232.76 points, to 20,131.53. The Shanghai Composite Index saw a slight increase of 0.53 percent, or 16.27 points, to 3,100.55, while the mainland’s second exchange the Shenzhen Composite rose 0.75 percent, ot 14.45 points, to 1,945.90.

Tokyo shares open higher after US gains

Tokyo shares opened higher on Monday after Wall Street rebounded, backed by gains among high-tech stocks. The benchmark Nikkei 225 index gained 1.23 percent, or 325.72 points, to 26,753.37 at the open, while the broader Topix index rose 1.03 percent, or 19.13 points, to 1,883.33. The dollar fetched 129.48 yen against 129.19 yen in New York on Friday.

US stocks settled higher on Friday

Wall Street stocks rallied Friday, finally managing to score gains at the end of a week beset with worries over inflation, the Ukraine war and the economic outlook. The tech-rich Nasdaq Composite Index led the major indices, winning 3.8 percent to close at 11,805.00. The Dow Jones Industrial Average climbed 1.5 percent to end the day at 32,196.66, while the broad-based S&P 500 jumped 2.4 percent to 4,023.89.

Rupee slips 5 paise to close at all-time low of 77.55 per dollar

The rupee pared its initial gains and settled 5 paise lower at its fresh lifetime low of 77.55 against the US dollar on Friday, as inflation concerns and strength of the American currency weighed on the local unit. Forex traders said the rupee consolidated in a narrow range, as the weakness in regional currencies and depressing economic data weighed on the domestic unit, while intervention from the Reserve Bank of India (RBI) restricted the losses.

Sensex, Nifty last week

The week gone by was dominated by the bears, with many stocks seeing relentless selling pressure in all five sessions, thanks to a less-than-expected fall in US inflation print and higher than expected surge in April inflation numbers at home. There were not many surprises in corporate earnings that could revive sentiment. Sensex ended the week at 52,793.62, down 2,041.96 points or 3.72 per cent. A total of 26 of 30 index stocks ended lower for the week. Nifty50 tanked 629.10 points or 3.83 per cent for the week to 15,782.15.