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- Indian Stock Market News August 16, 2021
SGX Nifty Down 53 Points; Indicates Negative Opening for Indian Stock Markets Mon, 16 Aug SGX Nifty
The SGX Nifty opened on a negative note today.
At 8:10 am, it was trading down by 53 points, or 0.3% lower at 16,476 levels.
Trends on SGX Nifty indicate a negative opening for Indian stock markets.
Asian stock markets made a cautious start to the week today ahead of a raft of Chinese data that could confirm a slowdown in the giant economy, as much of the world races to stem the spread of the Delta variant of Covid-19 with vaccinations.
The Hang Seng is trading down by 1%, while the Shanghai Composite is trading up by 0.2%.
Japan's Nikkei is trading down by 1.9%.
In US stock markets, Wall Street indices managed fresh records last week even as a survey showed a shock slump in US consumer sentiment to the lowest since 2011 amid Delta fears.
US consumer sentiment dropped sharply in early-August to its lowest level in a decade, amid rising concerns over the Delta variant that could prompt Federal Reserve policymakers to pause decisions to pull back pandemic-era stimulus.
The Dow Jones Industrial Average added 15.5 points, or less than 0.1%, while the tech-heavy Nasdaq Composite edged higher 6.6 points, or less than 0.1%.
For the last week, the Dow booked a 0.9% gain, the S&P 500 advanced 0.7% and the Nasdaq Composite fell 0.1%.
US stock futures are trading on a negative note today with Dow Futures down by 136 points.
Gold prices hovered near a one-week high today, as a plunge in US consumer sentiment allayed some concerns of an early tapering by the Federal Reserve.
Crude oil prices fell more than 1% today, dropping for a third session, as government-imposed restrictions on mobility to counter the spread of the Delta variant raised worries about a recovery in fuel demand.
Back home, Vodafone Idea and Tata Power will be among the top buzzing stocks today.
In his latest video, Co-head of Research at Equitymaster Rahul Shah discusses how you can find multibagger stocks by taking minimum risk.
You can watch the video here: My Low Risk Strategy for Finding Multibaggers
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.
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Read the latest Market Commentary
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