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SGX Nifty Up 64 Points; Indicates Positive Opening for Indian Stock Markets
Mon, 1 Nov SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:15 am, it was trading up by 64 points, or 0.4% higher at 17,779 levels.

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

Asian stock markets climbed in early trade today as traders digested the outcome of Japan's election and fresh all-time highs for US shares.

Asia's manufacturing activity grew in October as emerging economies saw Covid-19 infections subside, but rising input costs, material shortages and slowing Chinese growth cloud the outlook.

The Hang Seng and the Shanghai Composite are trading down by 1.4% and 0.2%, respectively. The Nikkei is trading up by 2.2%.

In US stock markets, Wall Street indices capped a choppy day of trading on Friday with modest gains.

The latest gains resulted the best month for the broader market in nearly a year, as investors balanced encouraging company earnings growth against concerns over rising inflation and supply chain disruptions.

All the three stock indexes in US markets closed at a historical high on Friday.

The Dow Jones Industrial Average added 89 points to 35,820, while the S&P 500 rose 9 points to 4,605 and the Nasdaq Composite gained 50 points to 15,498.

US stock futures are trading on a positive note today with Dow Futures up by 89 points.

Gold prices edged lower today, extending the previous session's losses, as the dollar strengthened after data showing another advance in inflation fuelled bets over the Federal Reserve tightening its policy sooner.

Back home, Vodafone Idea and Dr Reddy's Lab will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani talks about why underlying metal prices are falling.

You can watch the video here: This is Why Metal Stocks are Falling

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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