Nifty’s Opening Cues Ahead of RBA’s Meeting & Mixed Asian Trade Tr

By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , was trading 0.12% or 22 points higher at 9 am on Tuesday, indicating a positive-to-flat opening on Dalal Street.

Further, the rose 0.1% and gained 0.35%.

Trading on Wall Street remained suspended on Monday, on account of a public holiday for Labour Day.

Stocks across Asian markets traded on a mixed note on Tuesday. China cemented its efforts to boost the economy. Investors await a meeting of the Reserve Bank of Australia scheduled for later in the day, as a rate hike is widely expected.

The European Central Bank will meet on Thursday for discussions over interest rate hike actions, followed by a US Fed Res meeting scheduled on Sept 21.

At 8:45 am, South Korea’s gained 0.15%, Japan’s Nikkei climbed 0.02% each, China’s surged 1%, Hong Kong’s lowered 0.2% and Australia’s ASX 200 slipped 0.04%.

Oil prices traded mixed on Tuesday after gaining 3% in the earlier session, following OPEC+’s decision to trim production levels to offset a drop in prices amid fears of slowing demand and economic growth. 

The organization will cut output by 100,000 barrels/day for October- roughly 0.1% of global demand.

slid 0.75% to $95.02/barrel and WTI Futures rallied 2.1% to $88.7/barrel. Futures declined 0.8%.

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