Shares may jump on positive global cues

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could climb 194.50 points at the opening bell.

Global Markets:

The US Dow Jones index futures were up 40 points, indicating a mildly positive opening in the US stocks today.

Most Asian shares rose on Friday following gains overnight on Wall Street. Investors are looking ahead to the release of U.S. jobs data for May. Markets in mainland China, Hong Kong and Taiwan are closed on Friday for a holiday.

In the US, the three major indices snapped two-day losing streaks. The S&P 500 jumped 1.84% to 4,176.82. The Dow Jones Industrial Average climbed 435.05 points, or 1.33%, to 33,248.28. The tech-heavy Nasdaq Composite surged 2.69% to 12,316.90.

Microsoft fell after the company warned of a hit to its profits from a stronger dollar. It cut its fourth-quarter forecasts for both profit and revenue.

In the commodities market, Brent crude for August 2022 settlement was down 8 cents or 0.07% at $117.53 a barrel. OPEC agreed Thursday to pump more crude oil over the next two months as Russian production begins to drop because of Western sanctions.

Domestic Equity Market:

The domestic equity barometers ended with strong gains on Thursday, snapping a two-day losing run. Good GST collection and PMI data in May boosted sentiment. A correction in crude oil prices also supported buying. The barometer index, the S&P BSE Sensex, was up 436.94 points or 0.79% to 55,818.11. The Nifty 50 index rose 105.25 points or 0.64% to 16,628.

Foreign portfolio investors (FPIs) sold shares worth Rs 451.82 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 130.63 crore in the Indian equity market on 2 June 2022, provisional data showed.

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