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SGX Nifty Up 38 Points; Indicates Positive Opening for Indian Stock Markets
Mon, 1 Feb SGX Nifty | Yash Vora, TM Team

The SGX Nifty opened on a positive note today.

At 8:10 am, it was trading up by 38 points, or 0.27% higher at 13,760 levels.

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

Asian stock markets climbed today as concerns over volatile retail trading receded and signs of an easing cash crunch in China aided sentiment.

China's short-term money market rate fell from a five-year high after the People's Bank of China injected funds in an effort to avoid a liquidity squeeze.

The Hang Seng is trading up by 1% while the Shanghai Composite is up 0.2%. The Nikkei is trading higher by 0.9%.

US stock markets closed about 2% lower on Friday amid concern about the implications of short-squeezes encouraged on internet forums.

The Dow Jones Industrial Average dropped 620 points on Friday, down 2%, to close below the 30,000 level for the first time since December. The Nasdaq Composite also slipped 2%.

US stock futures declined today as a surge in speculative trading by retail traders continued to cause hedge funds to take off risk and worried investors about a market bubble.

Dow Futures are trading down by 30 points while Nasdaq Futures are trading lower by 17 points.

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Silver futures advanced 4% as retail sites were overwhelmed with demand for bars and coins on Sunday. Comments began appearing on Reddit forum Wall Street Bets last week as people suggested buying exchange-traded funds linked to silver.

Here are the key events due later this week:

  • Australia - RBA - Interest Rate Decision - Wednesday
  • India - Manufacturing and Services PMI - Wednesday
  • US - Natural Gas Storage - Thursday
  • India - Interest Rate Decision and Forex Reserves - Friday

Back home, Marico and IRFC will be among the top buzzing stocks today.

Benchmark indices will today react to the Budget 2021 proposals, which will be presented by Finance Minister Nirmala Sitharaman in the Parliament later in the day. The FM has promised a "never before" budget that would help revive economic sentiment in a Covid-19 impacted year.

In our new video series called Momentum Moves, Brijesh Bhatia talks about what traders can expect on budget day and this week.

You can watch the video here: The Bulls Have to Fight Hard Going into the Budget

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


What else is happening in the markets today? Dig in...

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Stock Market Updates

Bloodbath on Dalal Street: 6 Reasons Why Sensex Nosedived 1,939 Points Today (Today's Market)

Feb 26, 2021 Closing

Indian share markets end deep in the red with the Sensex down by 1,939 points and the Nifty ending down by 568 points.

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

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