New Week Opening Cues: SGX Nifty Futures Trade Flat, Investors Await US CPI & More

By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , was trading flat at 8:20 am on Monday despite firm cues from global markets, indicating a muted opening for the new week on Dalal Street.

Further, the and traded flat too.

Major indices on Wall Street jumped sharply on Friday, recording their first weekly gain in four weeks as investors looked past concerns about the economic outlook and indulged in a buying spree.

Investors now await the for August, slated to release on Sept 13 to get cues on any slowdown in inflation.

jumped 2.11%, gained 1.19% and surged 1.5% on Friday, and ended the week 4.1%, 2.7% and 3.6% higher, respectively.

Stocks across Asian markets traded higher on Monday, following strong cues from Wall Street’s Friday close on hopes that the US CPI figure would shed some light on probable cooling inflation, while the euro jumped to an over 3-week peak versus the US dollar and crept to the highest in Sept amid aggressive monetary tightening prospects by the ECB.

At 8:15 am, Japan’s surged 1.13% and Australia’s gained 1.02%, while the markets in China, Hong Kong and South Korea witnessed a holiday on Monday.

Oil declined on Monday amid concerns of slowing demand and U.S.-led price caps on Russian crude exports. tanked 1.4% to $91.5/barrel and WTI Futures plunged 1.56% to $85.5/barrel. Futures gained 0.6%.

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