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SGX Nifty Down 266 Points; Indicates Week Opening for Indian Stock Markets
Mon, 19 Jul SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:05 am, it was trading down by 226 points, or 1.4% lower at 15,710 levels.

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

Asian stock markets slipped again today while perceived safe haven assets, including the yen and gold, edged higher as investor risk appetite was soured by fears of rising inflation and a relentless surge in coronavirus cases.

The Hang Seng and the Shanghai Composite is down by 0.8% and 2.1%, respectively. The Nikkei is trading down by 1.5%.

In US stock markets, Wall Street indices ended lower on Friday, weighed down by declines in Amazon, Apple and other heavyweight technology stocks, while investors worried about a rise in coronavirus cases tied to the highly contagious Delta variant.

Also, US stocks snapped a three-week winning streak as data showed that consumer sentiment dwindled in early July, driven in part by concerns of high inflation.

The yield on the benchmark 10-year Treasury note settled at 1.3% on Friday, falling for the third consecutive week.

All three major indexes notched weekly losses. The S&P 500 and the Dow Jones Industrial Average shed 1% and 0.5%, respectively. The Nasdaq Composite Index fell 1.9%.

US stock futures are trading on a negative note today with Dow Futures down by 193 points.

Gold prices edged higher on Monday as a fall in US Treasury yields and concerns over a global economic recovery slowdown due to the spread of the Delta variant of the coronavirus lifted demand for the safe-haven metal.

Crude oil prices fell more than 1% on today, hit by an agreement over the weekend within the organization of the petroleum exporting countries (OPEC+) group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

Back home, HDFC Bank and Angel Broking will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani , talks about a new market that the Reserve Bank of India has opened for investors.

You can watch the video here: RBI Opens a New Market for Investors

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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