The SGX Nifty opened on a positive note today.
At 8:10 am, it was trading up by 109 points, or 0.7% higher at 16,824 levels.
Trends on SGX Nifty indicate a positive opening for Indian stock markets.
Asian stock markets are trading on a steady note today as traders weighed Jerome Powell's signal that pandemic-era Federal Reserve policy support will be withdrawn cautiously and gradually.
The Hang Seng and the Shanghai Composite are trading up by 0.3% and 0.4%, respectively. The Nikkei is trading up by 0.3%.
In US stock markets, Wall Street indices closed higher on Friday in the wake of Chairman Powell's Jackson Hole speech.
All three major US indexes rallied as Federal Reserve Chairman Jerome Powell prepared the markets for the central bank to pull back on some of its monetary stimulus, saying it's likely to start tapering its US$120 bn in monthly bond purchases this year.
Powell said the Federal Reserve may start paring bond purchases this year but is in no hurry to raise interest rates and will be guided by data on Covid-19 risks.
The Dow Jones Industrial Average gained 0.6%. The S&P 500 advanced 0.8% and the Nasdaq Composite added 1.2%.
US stock futures are trading on a flat note today with Dow Futures up by 6 points.
Gold prices scaled today to their highest in more than three weeks after US Federal Reserve Chair Jerome Powell stopped short of providing any clear guidance on the timeline for paring economic support at the Jackson Hole economic conference.
Crude oil prices rose around 1% today after a powerful hurricane ploughed through the Gulf of Mexico, forcing shutdowns and evacuations of hundreds of offshore oil platforms.
Back home, InterGlobe Aviation and BPCL will be among the top buzzing stocks today.
In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani, talks about how you should trade in the month of September.
You can watch the video here: My September Trading Blueprint
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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