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SGX Nifty Up 68 Points; Indicates Positive Opening for Indian Stock Markets
Mon, 6 Sep SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:20 am, it was trading up by 68 points, or 0.4% higher at 17,400 levels.

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

Asian stock markets are trading on a positive note today amid an ongoing rally in Japan sparked by the planned exit of the prime minister and as traders assessed the challenges for reopening underscored by slower US hiring.

The Hang Seng and the Shanghai Composite are trading up by 0.4% and 0.5%, respectively. The Nikkei is trading up by 1.8%.

In US stock markets, Wall Street indices ended mixed on Friday after monthly employment data from the labour department came in far weaker than had been anticipated.

The employment report sparked fresh questions about the job market's recovery from the Covid-19 pandemic amid the spread of the delta variant.

Data from the labour department showed that the US economy added 2,35,000 jobs in August, far fewer than forecast for an increase of 7,20,000, but the unemployment rate dropped to 5.2% from 5.4% and touched a new pandemic low.

The soft report seems likely to prompt Federal Reserve policy makers to delay considering a move to scale back asset purchases at their September meeting.

The Dow Jones Industrial Average fell 75 points, or 0.2% while the Nasdaq Composite Index rose 32 points, or 0.2%.

US stock futures are trading on a negative note today with Dow Futures up by 29 points.

Gold prices hovered today below a 2-1/2 month peak after a disappointing US jobs data signalled that the Federal Reserve could push back the timeline for tapering stimulus measures, bolstering bullion's appeal as an inflation hedge.

Crude oil prices extended losses today after the world's top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling that global markets are well supplied.

Back home, HDFC Life Insurance and IRB Infra will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani, shares his top six day trading hacks.

You can watch the video here: Intraday Trading for Beginners

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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