SGX Nifty up 1.40%, points at positive start

Mumbai, March 2 (IANS) The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India indicated a positive start for trading in Indian markets on Monday.In a much needed relief after the worst week since the 2008 financial crisis, the index was trading higher by 1.40 per cent to 8.61.Index futures of the US, Asian and European stock markets also traded higher. S&P 500 and Nasdaq futures were up nearly 0.50 per cent while FTSE 100 and DAX Futures were up over one per cent.Japan's Nikkei was also up over one per cent.Foreign Portfolio Investors sold Rs 1,428.74 crore worth of stock on Friday while its domestic counterparts bought Rs 7,621.16 crore worth of counters.The global oil benchmark, Brent, jumped 3.5 per cent to 51.44 a barrel on Monday.Fears of larger than anticipated disruption due to an imminent pandemic caused a stock market crash on Friday. Dalal street mirrored global stocks headed for their worst week since the 2008 financial crisis.The benchmark Sensex had lost 1,448 points in a broad based sell-off on Friday.
--IANS ravi/dpb