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SGX Nifty Down 105 Points; Indicates Negative Opening for Indian Stock Markets
Mon, 20 Dec SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:00 am, it was trading down by 105 points, or 0.6% lower at 16,910 levels.

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

Asian stock markets plunged today as surging Omicron cases triggered tighter restrictions in Europe.

The spread of Omicron saw Netherlands go into lockdown on Sunday and put pressure on others to follow, though the United States seemed set to remain open.

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 came under pressure in Friday's volatile session amid worries about tighter monetary policy and the ongoing pandemic, leading to a losing week for the major averages.

The Dow Jones Industrial Average dropped 532 points, or 1.5% while the tech-heavy Nasdaq Composite ended the session less than 0.1% lower after briefly trading in the green.

The major averages posted a negative week with Nasdaq being the biggest loser. It declined nearly 3%, while the Dow and the S&P 500 slipped 1.7% and 1.9%, respectively.

Last week, the Fed announced a more aggressive plan to wind down its asset purchases, and that it is looking at hiking rates multiple times in 2022.

US futures fell amid concerns about more curbs to tackle the virus variant and a setback for President Joe Biden's economic agenda.

Dow Futures are down 130 points while Nasdaq Futures are down 0.3%.

Crude oil prices swung lower amid concerns the spread of the Omicron variant would crimp demand for fuel and signs of improving supply.

Brent crude fell US$1.56 to US$71.96 a barrel, while US crude lost US$1.43 to US$69.43 per barrel.

Back home, Wipro and Indiabulls Housing Finance will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani discusses about the US dollar getting stronger and how to profit from its rise.

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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