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SGX Nifty Up 44 Points; Indicates Positive Opening for Indian Stock Markets
Fri, 28 Jan SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:05 am, it was trading up by 44 points, or 0.3% higher at 17,148 levels.

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

Asian stock markets on Friday recovered some of the losses sparked by the Federal Reserve's pivot to tighter monetary policy, while US equity futures climbed after strong Apple Inc. earnings aided sentiment.

The Hang Seng and the Shanghai Composite are trading down by 0.8% and 0.6%, respectively. The Nikkei is trading up by 2.1%.

In US stock markets, another volatile day of trading on Wall Street ended Thursday with stocks closing lower after giving up an early rally. The late-afternoon fade extended the market's losing streak as it closes in on its fourth weekly loss.

Markets are still processing the latest indications from the Federal Reserve that the central bank is increasingly concerned about inflation and plans to raise interest rates and take other steps soon to fight it.

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The Dow Jones Industrial Average fell 7.3 points, or 0.1%. The S&P 500 lost 23.4 points, or 0.5% and the tech-heavy Nasdaq Composite dropped 189.3 points, or 1.4%.

US stock futures are trading on a positive note today with Dow Futures up by 147 points.

Gold was flat today and set for its sharpest weekly decline since November, as markets digested the US Federal Reserve's policy tightening plans that propelled the dollar index to a multi-month peak.

Crude oil prices eased on Thursday after Brent crude hit a seven-year high above US$90 a barrel, as the market balanced concerns about tight worldwide supply with expectations the US Federal Reserve will soon tighten monetary policy.

Back home, TVS Motors and Canara Bank will be among the top buzzing stocks today.

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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.

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Read the latest Market Commentary


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