Market poised for higher opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 39 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Monday following U.S. jobs data released Friday that came in far short of expectations. Japanese shares climbed on hopes of better pandemic management and more spending by Prime Minister Yoshihide Suga's successor.

In US, the Dow Jones Industrial Average retreated on Friday and the S&P 500 slipped from a record high after the August jobs report came in short of expectations, showing the impact of the delta-fueled Covid resurgence.

U.S. jobs data released Friday came in far short of expectations, with the economy adding just 235,000 positions in August. Meanwhile, the unemployment rate declined to 5.2% from 5.4% in July, in line with estimates.

In a press conference on Friday, President Joe Biden touted the average monthly job gains since he took office and lower weekly jobless claims, and called for more vaccinations and for Congress to pass infrastructure and budget bills.

U.S. markets are closed on Monday for the Labor Day holiday.

Domestic markets:

Back home, barometers settled with modest gains near record high levels on Friday. The barometer index, the S&P BSE Sensex, gained 277.41 points or 0.48% at 58,129.95. The Nifty 50 index added 85.45 points or 0.52% to 17,323.60.

Foreign portfolio investors (FPIs) bought shares worth Rs 768.58 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 668.60 crore in the Indian equity market on 3 September, provisional data showed.

Powered by Capital Market - Live News