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SGX Nifty Down 145 Points; Indicates Gap-Down Opening for Indian Stock Markets
Fri, 21 Jan SGX Nifty

SGX Nifty Down 145 Points; Indicates Gap-Down Opening for Indian Stock Markets

The SGX Nifty opened on a negative note today.

At 8:20 am, it was trading down by 145 points, or 0.8% lower at 17,670 levels.

Trends on SGX Nifty indicate a gap-down opening for Indian stock markets.

Asian stock markets fell today after US stocks took a knock overnight, hurt by lingering concerns over the Federal Reserve's tightening and weaker-than-expected economic and earnings data.

The Hang Seng and the Shanghai Composite are trading down by 0.1% and 0.6%, respectively. The Nikkei is trading down by 1.4%.

In US stock markets, a rebound on Wall Street fizzled on Thursday as investors lost conviction that an early rally had legs, with the Nasdaq falling more than 1% and crude oil prices hitting fresh seven-year highs to rekindled fears of inflation and higher interest rates.

The Dow Jones Industrial Average fell 313 points, or 0.9%, while the S&P 500 fell 50 points, or 1.1%, with nearly 85% of stocks in the index falling.

The Nasdaq Composite fell 186 points, or 1.3%, to 14,154, after rising as much as 2.1%. Nasdaq's losses in recent months left it in what Wall Street considers a market correction, or 10% below its peak.

US stock futures are trading on a negative note today with Dow Futures down by 94 points.

Gold prices were muted today and were on course for a second consecutive weekly gain, as investors turned to safe-haven assets while awaiting signals on interest rate hikes from the US Federal Reserve's meeting next week.

Crude oil prices edged lower on Thursday, posting slim losses after several days of strength that pushed benchmarks to seven-year highs due to concerns about tight supply.

Back home, HUL and Asian Paints will be among the top buzzing stocks today.

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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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