SGX Nifty Futures Indicate Positive Opening on D-St Ahead of Fed’s Policy Meet

By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.85% or 150 points higher at 8:35 am on Tuesday amid strong global cues ahead of the Fed’s policy meeting, indicating a positive opening on Dalal Street.

Further, the gained 0.14% and rose 0.2%.

Major indices on Wall Street ended a volatile session higher on Monday ahead of a two-day Fed policy meeting, starting Tuesday. Investors expect the central bank to hike interest rates by 75 bps.

The 10-year Treasury yield jumped to its highest level in 11 years amid expectations of higher and longer-than-estimated rate hikes to tame the soaring inflation.

surged 0.76%, rose 0.64% and gained 0.69%. 

Stocks across Asian markets rose on Tuesday, tracking overnights gains on Wall Street as investors await the Fed’s rate hike decision, which is expected to be hefty, given the decades-high inflation print. 

At 8:30 am, Japan’s gained 0.42%, South Korea’s surged 0.47%, China’s jumped 0.66%, Hong Kong’s rallied 1.16% and Australia’s spiked 1.24%.

Oil prices ticked a little higher on Tuesday as traders from big bets ahead of the U.S. Fed meeting, while doubts over steady demand in the remainder of the year also weighed on trade. gained 0.24% to $92.2/barrel and rose to $85.4/barrel at the time of writing.

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