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SGX Nifty Up 14 Points; Indicates Flat Opening for Indian Stock Markets
Fri, 1 Jan SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:00 am, it was trading up by 14 points, or 0.1% higher at 14,030 levels.

Trends on SGX Nifty indicate a flat opening for Indian stock markets.

Asian stock markets opened muted as most markets closed for the New Year holiday and others are expected to see low volumes.

Stock markets in China, Hong Kong and Japan are closed today for a holiday.

In US stock markets, all three major indexes ended the final trading day of the year higher.

Gains were seen after the release of a better-than-expected reading on US weekly jobless claims. The number of first-time unemployment-benefits filers totaled 787,000 for the week ending December 26, the Labor Department said Thursday.

The Dow Jones Industrial Average ended up by 0.7% while the Nasdaq ended up by 0.1%.

The Dow climbed 7.2% in 2020, while for the Nasdaq, it was the best year since 2009 with gains of 44%.

European stock markets closed lower on Thursday, the final trading day of a year dominated by the coronavirus pandemic and extraordinary stimulus measures that have tried to mitigate the economic hit from the health crisis.

US stock futures are trading higher today. Dow futures are trading up by 169 points while Nasdaq futures are trading higher by 0.3%.

Crude oil prices edged higher but lost more than a fifth of their value in 2020, as lockdowns to depressed economic activity and sent oil markets reeling.

Brent rose 17 cents to settle at US$ 51.80 a barrel. US West Texas Intermediate rose 12 cents to settle at US$ 48.52 a barrel. Brent fell 21.5% for the year, while WTI fell 20.5%.

Back home, Tejas Networks and Maruti Suzuki will be among the top buzzing stocks today.

To know the top cues in today's stock market session, check out the pre-open commentary here.

Stay tuned for more updates on Indian stock markets in the upcoming commentary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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