On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard to start the month with a gain but fell just short. The benchmark index edged slightly lower to 7,251.6 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to fall again

The Australian share market is expected to fall gain on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% lower this morning. In late trade in the United States, the Dow Jones is down 0.2%, the S&P 500 has fallen 0.6% and the NASDAQ is down 0.8%.

Nickel Industries shares named as a buy

The Nickel Industries Ltd (ASX: NIC) share price could have major upside potential according to analysts at Bell Potter. This morning the broker has retained its buy rating with a slightly improved price target of $1.87. Bell Potter commented: “Its aggressive growth outlook and undemanding valuation metrics make it one of our top picks.”

Oil prices rise again

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 0.7% to US$77.61 a barrel and the Brent crude oil price is up 0.9% to US$84.18 a barrel. Traders have been bidding oil higher over the last couple of days thanks to strong economic data out of China.

Shares going ex-dividend

A number of ASX 200 shares are going ex-dividend on Thursday and could drop into the red. This includes supermarket giant Coles Group Ltd (ASX: COL), private health insurers Medibank Private Ltd (ASX: MPL) and NIB Holdings Limited (ASX: NHF), and lithium miner Pilbara Minerals Ltd (ASX: PLS).

Gold price climbs

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.5% to US$1,845.5 an ounce. The precious metal rose after the US dollar softened in response to China’s strong economic data.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Own Telstra shares? Here’s how the ASX 200 telco is raising $650 million
• Why are ASX 200 mining shares leading the market today?
• Investing in ASX 200 lithium stocks? Here’s why this 6% decline in China matters
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended NIB Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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