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SGX Nifty Up 68 Points; Indicates Positive Opening for Indian Stock Markets
Mon, 10 Jan SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:10 am, it was trading up by 68 points, or 0.4% higher at 17,925 levels.

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

Asian stock markets are trading on a mixed note today as investors countdown to another US inflation reading that could well set the seal on an early rate hike from the Federal Reserve, lifting bond yields and punishing tech stocks.

The Hang Seng is trading up by 0.6%, while the Shanghai Composite is trading down by 0.1%. The Nikkei is trading on a flat note.

In US stock markets, Wall Street on Friday wrapped up the first week of the new year with daily and weekly losses as investors worried about looming US interest-rate hikes and unfolding Omicron news.

The Nasdaq posted its biggest weekly percentage fall since February 2021 and led declines for the day in the major indexes. Stocks fell on Friday after the December US jobs report missed expectations but was still seen as strong enough to keep the Federal Reserve's tightening path in place.

The Dow Jones Industrial Average fell 4.8 points, or 0.1%, the S&P 500 lost 19 points, or 0.4% and the Nasdaq Composite dropped 145 points, or 1%.

For the week, the Dow fell 0.3%, the S&P 500 declined 1.9% and the Nasdaq dropped 4.5%.

US stock futures are trading on a negative note today with Dow Futures down by 42 points.

Gold prices edged up from three-week lows on Friday after data showed US jobs growth was slower than expected last month even as the Federal Reserve signalled faster rate hikes, which sent bullion on track for a weekly fall.

Crude oil prices lost more ground today as rapidly climbing cases of the Omicron Covid-19 variant hit economic activity, although losses were curbed by supply disruptions in Kazakhstan and Libya.

Back home, TCS and Macrotech Developers will be among the top buzzing stocks today.

In his latest video, Co-head of Research at Equitymaster Rahul Shah discusses his anti-list of stocks to invest in 2022.

You can watch the video here: Avoid these Toxic Stocks in 2022

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!

Read the latest Market Commentary


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