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SGX Nifty Up 50 Points; Indicates Positive Opening for Indian Stock Markets
Fri, 27 Aug SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:05 am, it was trading up by 50 points, or 0.3% higher at 16,690 levels.

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

Asian stock markets are trading on a mixed note today amid hawkish comments from some Federal Reserve officials ahead of the Jackson Hole symposium and as traders assessed geopolitical tension stemming from Afghanistan.

The Hang Seng and the Shanghai Composite are trading up by 0.7% and 0.6%, respectively. Japan's Nikkei is trading down by 0.3%.

In US stock markets, Wall Street indices fell on Thursday on fears of a faster tapering of the Federal Reserve's bond purchase program, although gains in banks and some strong earnings reports helped cap losses.

While many investors expect an eventual slowdown of bond purchases, they will look for clues on when and how the US central bank will start tapering when Fed chief Jerome Powell speaks at the Jackson Hole economic symposium today.

All three major US indexes had declined sharply in early trading after a bomb blast in Afghanistan's capital city of Kabul briefly rattled sentiment.

The Dow Jones Industrial Average fell 0.5% , while both the S&P 500 and the Nasdaq Composite lost 0.6%.

US stock futures are trading on a positive note today with Dow Futures up by 61 points.

Gold prices were steady today as investors awaited Fed chief Jerome Powell's speech later in the day at the Jackson Hole symposium after some US central bank officials called for paring bond purchases.

Crude oil prices rose today, on track to post big gains for the week, on worries about near term supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend.

Back home, Affle India and Cipla will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani, shows you why his energy blueprint is still intact.

You can watch the video here: Our Energy Trade

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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