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SGX Nifty Down 3 Points; Indicates Flat Opening for Indian Stock Markets
Fri, 13 Aug SGX Nifty

The SGX Nifty opened on a flat note today.

At 8:00 am, it was trading down by 3 points, or 0.1% lower at 16,377 levels.

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

Asian stock markets are trading on a negative note today as the spread of the delta Covid-19 variant and China's regulatory curbs restrained sentiment despite another record high close on Wall Street.

Today, the focus in China remains on Beijing's push to exert more control over a range of industries.

The Hang Seng is trading down by 0.3%, while the Shanghai Composite and the Nikkei are trading on a flat note today.

In US stock markets, Wall Street indices hit record highs on Thursday while the dollar and US Treasury yields edged higher, building on recent strength, as the debate continued over when the Federal Reserve would start to ease stimulus.

Data on Wednesday hinted that US inflation may have peaked, reassuring investors that the Federal Reserve will not feel obligated to hasten plans to rein in emergency-level support of the economy.

However, data on Thursday showed US producer prices registered their largest increase in more than a decade.

The Dow Jones Industrial Average and S&P 500 closed at record highs for the third consecutive day.

The Dow rose 14.9 points, or 0.1%, while the Nasdaq Composite added 51.1 points, or 0.4%.

US stock futures are trading on a flat note today with Dow Futures up by 6 points.

Gold prices were flat in early Asian trade today, as a firm dollar offset ease in early-tapering bets, although the precious metal was headed for a second consecutive weekly decline.

Crude oil prices fell after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery in global oil demand.

Back home, IRCTC and BPCL will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily , Brijesh Bhatia talks about where the Nifty is headed.

You can watch the video here: Where Will the Nifty Go Now?

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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