SGX Nifty Live Scores
SGX Nifty is an initiative derived from the National Stock Exchange Nifty index. The official trade is conducted on the Singapore Stock Exchange (SGX). A lot of traders keep up with it to predict the potential of the Indian Stock Market.
Latest SGX Analytics:
As of late, the Asian market has had a positive start. The Nifty futures on the Singapore Exchange were traded at 76.50 points or 0.75% higher at 10,323.50. Dalal Street seemingly headed on a positive note on 30Th June 2020.
On Monday, Nifty50 closed at the same level at which it had opened. The analysis displays a Doji candle formed on the daily chart. The back to back formation suggests that the investors have been indecisive when trading. The swing low of 10,194 should act as a support system of Nifty.
Market rates and Higher price for Asian stocks
Asian stocks have been valued at higher rates. The Hong Kong’s Hang Seng rose by 0.69% or 166.96 points to an approximate of 24468.24. China’s Shanghai Composite Index rose by 0.12% or 3.59 points to around 2965.11.
In the Japanese market, the benchmark of the Nikkei 225 index gained 1.55% or 340.37 points to around 22335.41. Broader Topix index increased by 1.34% or 20.69 points to 1569.91.
The US stocks closed down comparatively. This was due to the gains of the Boeing Airline shares. The Dow Jones Industrial Value Average advanced 580.25 points or 2.32% to approximately 25595.80. The S&P500 index rose by 44.19 points, 1.47% to about 3053.24. The Nasdaq Composite index surged by 116.93 points, 1.20% to 9874.15.
How the oil prices have taken a turn?
The Oil prices took a hit due to the weak Japanese Industrial production data. Tensions seemed too high as the fuel demand was steadily increasing. The Coronavirus pandemic restrictions are slowly easing up. The Brent Crude futures fell by 32 cents, 0.8%, which is approximate $41.53/ barrel.
Gold prices closed down at the best prices in over 4 years. The Covid-19 pandemic has increased demand for the metal in the market. The process held steady on Tuesday and it seemed to be entering its biggest quarterly rise. Spot gold was valued at $1770.77 per ounce by 0052 GMT. This is after the $8.29 hike in prices just last week valuing the metal at about $1779.06.
Currencies are holding a good footing in the market. The market on Tuesday has given investors hope of a recovering economy. This has also simultaneously boosted stock prices. The dollar surged at an all-time high over yen. The euro had an upper hand against the greenback. The haven currency, Swiss Franc went easy on the US currency. Sterling was under pressure as the UK government promised to help boost public spending. The rupee on Monday increased by 7 paise and closed at 75.58 against the US currency. This helped ease crude oil prices.
India’s 10-year bond yield declined by 0.17% to 5.90%. This was after trading in the 5.89-5.93 range.
- Geopolitical tensions between China and India have been hampering with the market. The Indian Government banned 59 Chinese Apps in the country, these include TikTok, UC Browser, Shareit, CamScanner, and others. This was taken in caution to the knowledge that the Chinese Government is possibly spying on Indian Citizens.
- Lockdown phase 2 has been put on a halt. It is mainly to introduce new guidelines that need to be strictly implemented in the country until July 31st. The opening of schools, colleges, theatres, malls, international passenger flights, gymnasiums, social, political, religious congregations all remains banned till announced. Intra-state and inter-state restrictions have been lifted completely.
- Airlines have been canceling flight tickets which have caused confusion and chaos. The changing lockdown norms have been putting airline companies under pressure. Those who have purchased their tickets seem are not even getting their refunds.
- The biggest IT companies in the country, TCS, WIPRO, and Infosys are reconsidering their business with China. This is concerning the border tensions. The software service providers are subdued in China since the country mainly focuses on uplifting Western Company operations.
The SBI has written to the UK home secretary. This is in the query of Vijay Mallya seeking asylum in the UK. The letter has been written on the behalf of lenders and it urges the authorities to expedite the businessman to recover his dues from him.