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Live Market Updates Today: 8th May

SGX Nifty indicates a flat to positive start; US market rebounds Fri, most Asian indices trade higher Market LIVE Updates: SGX Nifty indicates a flat to positive start

65,750pts would act as key level to watch

65,750pts would act as key level to watch

SGX Nifty indicates a flat to positive start; US market rebounds Fri, most Asian indices trade higher Market LIVE Updates: SGX Nifty indicates a flat to positive start; US market rebounds Fri, most Asia...

The SGX Nifty indicates a positive start for the broader index with a gain of 54 points after the Nifty closed 188 points lower at 18,069 on Friday. SGX futures stood at 18,178.

US Markets

Futures tied to the Dow Jones Industrial Average added 10 points, while S&P 500 and Nasdaq-100 futures were flat. Over the weekend, billionaire investor Warren Buffett commented on a slew of topics, including the latest banking crisis that rocked Wall Street, at Berkshire Hathaway' s annual meeting in Omaha, Nebraska.

The Dow on Friday added more than 546 points, while the S&P 500

and Nasdaq Composite popped 1.85 percent and 2.25 percent respectively. The gains came even after a stronger-than-expected April jobs report.

European Markets

The pan-European Stoxx 600 closed up 1.1 percent, with banking and oil and gas stocks leading gains as the majority of sectors and major bourses ended the session in positive territory. Food and beverage stocks were the sole outlier of the day, closing down 0.1 percent. FTSE gained 0.98 percent to close at 7778.38. DAX gained 1.44 percent to close at 15,961 points.

Asian markets

Asia-Pacific markets are trading mixed on Monday after Wall Street snapped a four-day losing streak Friday. In Australia, the S&P/ASX 200 opened 0.66 percent higher, while in South Korea, the Kospi rose 0.8 percent and the Kosdaq was up 0.68 percent.

Futures tied to Hong Kong’s Hang Seng index point to a lower open for the index, trading at 19,984 compared to its last close of 20,049.31. Japan’s Nikkei 225 sunk 0.52 percent in early trade, while the Topix reversed earlier losses and gained 0.14 percent.

Live Updates

  • 8 May 2023 3:28 AM GMT

    FII and DII

    Foreign institutional investors (FII) bought shares worth Rs 777.68 crore, whereas domestic institutional investors (DII) sold shares worth Rs 2,198.77 crore on May 5, provisional data from the National Stock Exchange showed.

  • 8 May 2023 3:27 AM GMT


    Gold beat a fast retreat on Friday after stronger-than-expected U.S. payrolls data tempered expectations of interest rate cuts from the Federal Reserve.

    Spot gold lost 1.7 percent to $2,015.33 per ounce by 1:40 p.m. EDT (1740 GMT) but was up 1.3 percent for the week after surging to $2,072.19 on Thursday, just shy of its record high of $2,072.49, following the Fed’s hint that its hiking cycle may be ending.

  • 8 May 2023 3:26 AM GMT


    The Dollar index traded 0.08 percent higher in futures at 101.29, whereas the value of one dollar hovered near Rs 81.68.

  • 8 May 2023 3:26 AM GMT

    Oil prices

    Oil prices rose on Friday but fell for the third straight week after a sharp fall earlier this week ahead of benchmark interest rate rises and on concern that the US banking crisis will slow the economy and sap fuel demand.

    Brent crude closed $2.80, or 3.9 percent higher, at $75.30 a barrel. U.S. West Texas Intermediate settled up $2.78, or 4.1 percent, at $71.34 after four days of declines that sent the contract to lows last seen in late 2021.

  • 8 May 2023 3:25 AM GMT

    Headwinds from US banks fallout, debt default fears to keep investors anxious

    The widely expected yet highly anticipated decision came from the FOMC May meeting on expected lines but failed to calm investors' nerves as banking sector woes resurfaced. In the post-policy comments, Chair Jerome Powell attempted to reassure markets saying that the US banking system is sound and resilient.

  • 8 May 2023 3:24 AM GMT

    Coal India March quarter net profit misses estimates, down 18%

    Coal India reported a consolidated net profit of Rs 5,527.62 crore in the March quarter, down 17.7 percent from a year ago. Consolidated revenue for the quarter stood at Rs 35,161.44 crore, up 17.3 percent year on year. The Bloomberg poll estimated a net profit of Rs 7,752 crore while revenue was expected at Rs 35,270 crore.

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