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By Malvika Gurung
Investing.com — The Gift Nifty index, formerly Singapore-based Exchange SGX Nifty, an early indicator for , traded 0.22% or 43 points lower at 8:42 am on Friday, indicating a lower opening on Dalal Street.
Further, the gained 0.12% and traded flat with a positive bias.
Major US indices ended mixed on Thursday as economic data indicated steady inflation in the world’s largest economy, underlining investor expectations that the Fed could pause its rate hikes at the September monetary policy meet.
The Personal Consumption Expenditures for July climbed to 3.3% YoY and the has risen to 4.2%, both in line with Investing.com estimates.
rose to its highest in over a month, gaining 0.11%, while snapped a four-day winning streak, declining 0.48% on Thursday. dropped 0.16%.
Asian shares traded mixed on Friday, while China supported its housing sector and worked towards stabilising the yuan. Hong Kong’s stock exchange delayed its securities and derivatives markets on Friday due to a warning over Typhoon Saola.
At 8:35 am, Japan’s surged 0.62%, South Korea’s traded flat, Hong Kong’s dipped 0.15%, China’s gained 0.4% and Australia’s declined 0.36%.
Oil prices remained steady at three-week highs on Friday amid tighter supply prospects, led by deeper production cuts from Saudi Arabia and Russia.
Futures rose 0.14% to $86.95/barrel and climbed to $83.7 a barrel while writing. shed 0.54%.
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