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SGX Nifty Up 17 Points; Indicates Flat Opening for Indian Stock Markets
Fri, 17 Dec SGX Nifty

SGX Nifty Up 17 Points; Indicates Flat Opening for Indian Stock Markets

The SGX Nifty opened on a positive note today.

At 8:00 am, it was trading up by 17 points, or 0.1% higher at 17,290 levels.

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

Asian stock markets fell today following a decline in US shares led by the technology sector as tightening monetary policy to fight inflation buffets investor sentiment.

The Hang Seng and the Shanghai Composite are trading down by 0.8% and 0.7%, respectively. The Nikkei fell 0.9%.

In US stock markets, Wall Street indices ended lower as the Federal Reserve's announcement of a faster end to its pandemic-era stimulus pushed investors away from Big Tech and toward more economically sensitive sectors.

The Dow Jones Industrial Average ended flat, while the S&P 500 lost 0.9%. The biggest losers were tech stocks with the Nasdaq Composite index plunging 2.5%.

US stock futures are trading in green indicating a positive opening for indices. Dow Futures are up 58 points while Nasdaq Futures are up 20 points.

Yesterday, the Bank of England unexpectedly raised interest rates, sending the pound higher. The European Central Bank temporarily boosted regular monthly bond buying for half a year to smooth the exit from crisis stimulus.

Gold prices are flat today, on track for their best week since mid-November as the dollar weakened after the US Federal Reserve decided to withdraw its pandemic-era stimulus, making bullion cheaper for holders of other currencies.

Crude oil prices slipped 0.3% today, after rising around 2% in the previous session.

Here are the key events to watch out today:

  • Bank of Japan Monetary Policy Decision
  • S&P Dow Jones Quarterly Rebalance

Back home, Tata Power and Mahindra and Mahindra (M&M) will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani discusses why 2022 is going to be a great year for commodity trading.

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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