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- Indian Stock Market News February 26, 2021
SGX Nifty Trades 279 Points Lower; Indicates Gap-Down Opening for Indian Stock Markets Fri, 26 Feb SGX Nifty
The SGX Nifty opened on a negative note today.
At 8:10 am, it was trading down by 279 points, or 1.9% lower at 14,900 levels.
Trends on SGX Nifty indicate a gap-down opening for Indian stock markets.
Asian stock markets opened sharply lower today after Wall Street's main indexes tumbled, with technology-related stocks under pressure following a steep rise in benchmark US Treasury yields.
The Nikkei is trading down by 2.6% while the Hang Seng is down 2.2%.
In US stock markets, Wall Street indices came under pressure as a rapid rise in Treasury yields spooked equity investors.
US treasury yields rose to fresh one-year highs. The yield on the 10-year US treasury note broke above 1.45% for the first time since February 2020 on Thursday, adding to recent advances.
All three major indexes fell, and the Nasdaq underperformed with a drop of 3.5% for its worst session since October as tech stocks renewed their declines.
The Dow Jones Industrial Average ended lower by 1.8%, after the index reached a record closing high a day earlier as cyclical and value stocks maintained their leadership positions.
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US stock futures are trading flat today amid news that the Biden administration had launched airstrikes in Syria, targeting facilities near the Iraqi border used by Iranian-backed militia groups.
Dow Futures are trading up by 15 points while Nasdaq futures are down 0.3%.
Crude oil prices held near 13-month highs, with profit-taking limited by assurance that US interest rates will stay low and a sharp drop in US crude output last week due to the winter storm in Texas.
Here are the key events due later today:
- US - Baker Hughes Oil Rig Count
- India - GDP Q3 & Infrastructure Output
- India - Fiscal Deficit, Bank Deposits and Loan Growth & Forex Reserves
Back home, Axis Bank and Coal India will be among the top buzzing stocks today.
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You can watch the video here: Make Rs. 5,000 Per Day Trading the Market
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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