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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Indian Stock Market News November 8, 2021
SGX Nifty Up 69 Points; Indicates Positive Opening for Indian Stock Markets Mon, 8 Nov SGX Nifty
The SGX Nifty opened on a positive note today.
At 8:10 am, it was trading up by 69 points, or 0.4% higher at 17,995 levels.
Trends on SGX Nifty indicate a positive opening for Indian stock markets.
Asian stock markets are trading on a mixed note today as investors keep watch on how price pressures impact monetary policy and the pace of economic recovery.
The Hang Seng is trading down by 0.3%, while the Shanghai Composite is trading up by 0.1%. The Nikkei is trading on a flat note today.
In US stock markets, Wall Street indices climbed to fresh highs on Friday and posted weekly gains after Labour Department data showed job growth rebounded in October following a summer slowdown.
The rally came after the October jobs report came in better than economists had expected. US payrolls added 5.3 lakh jobs last month.
Sentiment also got a boost after Pfizer announced clinical trial results of a pill to treat Covid that cuts the risk of hospitalisation or death by 89% among vulnerable adults.
The Dow Jones Industrial Average rose 204 points or 0.6%, while the S&P 500 gained 18 points or 0.4% and the Nasdaq Composite added 31 points or 0.2%.
The Federal Reserve earlier last week also announced a plan to begin tapering its pandemic-era economic aid by the end of November, putting the central bank on track to end its asset purchase program by the middle of next year.
Investors await fresh inflation readings in the week ahead. The producer price index and consumer price index are slated for release on Tuesday and Wednesday, respectively.
US stock futures are trading on a flat note today with Dow Futures down by 24 points.
Gold prices extended rally to hit a two-month high today as a retreating dollar bolstered the precious metal's appeal.
Crude oil price advanced above US$82 a barrel as traders weighed the odds of a release of crude from the US strategic petroleum reserve after OPEC+ resisted a plea from President Joe Biden to boost supplies more quickly.
Back home, Happiest Minds and Sun Pharma will be among the top buzzing stocks today.
In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani shares with you his top 2 investment ideas for Diwali 2022.
You can watch the video here: My Best Investments for Diwali 2022
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
Indian Share Market Update: Top Gainers and Losers
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