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SGX Nifty Up 144 Points; Indicates Firm Opening for Indian Stock Markets
Mon, 31 Jan SGX Nifty

SGX Nifty Up 144 Points; Indicates Firm Opening for Indian Stock Markets

The SGX Nifty opened on a positive note today.

At 8:00 am, it was trading up by 144 points, or 0.8% higher at 17,261 levels.

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

Asian stock markets are trading on a mixed note after a Federal Reserve official flagged the possibility of sharper interest rate increases and Chinese data signaled slower growth.

The Hang Seng is trading up by 0.6%, while the Shanghai Composite is trading down by 1%. The Nikkei is trading up by 0.9%.

In US stock markets, Wall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings, geopolitical turmoil and an increasingly aggressive Federal Reserve.

All three major US stock indexes began the day in the red, but turned increasingly green as the session progressed, with tech shares doing the heaviest lifting.

The Dow Jones Industrial Average rose 565 points, or 1.7%, the S&P 500 gained 105 points, or 2.4% and the Nasdaq Composite added 418 points, or 3.1%.

US stock futures are trading on a flat note today with Dow Futures down by 34 points.

This week, investors will be closely looking at the Economic Survey and the Union Budget, among other domestic and global cues, to be presented by Finance Minister Nirmala Sitharaman today and tomorrow, respectively.

Gold extended declines on Friday as growing expectations for US interest rate hikes pushed the dollar to a multi-month high, making bullion less attractive for overseas buyers.

Back home, Britannia and L&T will be among the top buzzing stocks today.

In his latest video, India's #1 trader Vijay Bhambwani shares why he is bullish on gold and silver ever since he has started recording videos for Equitymaster's YouTube channel.

You can watch the video here: The Glitter is Returning to Bullion

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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