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SGX Nifty Down 105 Points; Indicates Weak Opening for Indian Stock Markets
Mon, 26 Jul SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:10 am, it was trading down by 105 points, or 0.7% lower at 15,750 levels.

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

Asian stock markets struggled to rally today as super-strong US corporate earnings sucked funds out of emerging markets and into Wall Street, where records were falling almost daily.

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

Japan's Nikkei bounced 1.6% in early trade, but that was off a seven-month low.

In US stock markets, Wall Street indices closed at record highs on Friday after a rocky week in which investors fretted over the Delta coronavirus variant and cheered an economic recovery, while US Treasury yields rose before a Federal Reserve meeting which is set to take place on Wednesday.

All three major US stock indexes finished Friday at all-time highs after each posted weekly gains of more than 1%.

The Dow Jones Industrial Average closed above 35,000 for the first time ever, bringing its gain for 2021 to more than 14%.

The blue chip average rose 238.2 points, or 0.7%, to 35,062, gaining for a fourth straight day last week.

The S&P 500 gained 1% to 4,411.8 and the Nasdaq Composite climbed 1% to 14,837.

US stock futures are trading on a negative note today with Dow Futures down by 152 points.

Gold prices inched lower today, hovering around the US$1,800 per-ounce psychological level, as the US dollar held firm, with investors turning their attention to the Federal open market committee's meeting this week.

Crude oil prices have fared better amid wagers demand will remain strong as the global economy gradually opens and supply stays tight.

Back home, ICICI Bank and ITC will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani , shares a trading hack that you can use to multiply your profits.

You can watch the video here: A Trading Hack to Multiply Profits

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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