SGX Nifty Signals A Positive Start

SGX Nifty: Nifty futures on the Singapore Exchange traded 91 points higher at 18,341, signaling that Dalal Street was headed for a positive start on Thursday.

The Sensex opened in green on Thursday while the NSE Nifty was trading below 18,200-mark. Sensex was trading higher by 33.55 points 0.05% to 61,100.79 in early trade. Nifty on the other hand was down 8.45 points or 0.046% to 18,190.65 in early trade.

The 30-share BSE benchmark Sensex fell for the second straight day, dropping 635.05 points or 1.03% to settle at 61,067.24 while the broader NSE Nifty tumbled 186.20 points or 1.01% to end at 18,199.10.

Rupee rises by 10 paise to 82.74 against US dollar in opening trade.

In cryptocurrencies, Bitcoin price today dropped with the world’s largest and most popular digital token trading almost flat with a negative bias at $16,829. The biggest token is down by three-quarters from its record high of $69,000.

Oil prices rose for a fourth straight day on Thursday with U.S. crude, heating oil and jet fuel stocks seen tight just as a chilly blast hits the United States and travel is set to soar for the holiday season. Brent gained 34 cents to $82.54 a barrel, while U.S. crude rose 44 cents to $78.73 per barrel.

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Amid climate concerns, coal is again living up to its reputation of ‘black gold’ as the global demand for the fossil fuel is set to hit a record high with a bulk of it coming from India. The International Energy Agency (IEA), has forecast the global coal demand to grow by 1.2 percent in 2022 and surpass 8 billion tonne for the first time. This augurs well for Indian coal producers like Coal India Ltd (CIL) as well as for the companies like Tata Power and Adani Power, which have access to captive coal.

US markets witnessed the biggest single-day gain in the month of December as all major indices ended the day with hefty gains. Dow Jones Industrial Average rose 1.60%, S&P 500 surged 1.49% and Nasdaq Composite advanced 1.54%.

Asian stocks climbed into the black on Thursday after an upbeat reading on U.S. consumers cheered Wall Street investors, while the yen added to its recent massive gains as Japanese bond yields shifted into a new higher range.

In early trade, Asian peers were trading in positive terrain following the overnight euphoria on Wall Street. Japan’s Nikkei 225 surged 0.33%, South Korea’s Kospi rose 0.71% and China’s Shanghai Composite increased 0.24%.