MARKET LIVE: Gap up open likely ahead of Jackson Hole; SGX Nifty up 170pts

on Friday amid positive global sentiments ahead of Jacksone Hole symposium. As of 8:02 am, the SGX

Futures quoted at 17,695 levels, up over 150-odd points on the Nifty50.

Globally, investors remained undaunted in the US despite rate hike fears. Dow Jones climbed 300 points to close at 0.9 per cent, while the S&P 500 and NASDAQ Composite rose 1.4 and 1.6 per cent, respectively.
Asia-Pacific followed suit and inched higher in early trade. Nikkei 225, Hang Seng, S&P 200, Kospi surged up to 0.9 per cent.

Meanwhile, prices of crude oil continued to remain steady above $100 per barrel on possible return of sanctioned Iranian oil exports to the market. While Brent Crude hovered at $100 per barrel, WTI Crude was at $93 per barrel.

Back home, shares of Dr Reddy’s will be in focus after USFDA shared EIR for their formulations manufacturing facility in Srikakulam, Andhra Pradesh. Besides, Nelco inked pact with Intelstate to provide inflight connectivity services.

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