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SGX Nifty Down 24 Points; Indicates Flat Opening for Indian Stock Markets
Mon, 28 Feb SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:10 am, it was trading down by 24 points, or 0.1% lower at 16,636 levels.

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

Asian stock markets are trading on a mixed note today as traders remain on edge over the Russia-Ukraine crisis with western powers imposing fresh sanctions on Moscow.

The Hang Seng and the Shanghai Composite are trading down by 0.6% and 0.1%, respectively. The Nikkei is trading down by 0.3%.

In US stock markets, Wall Street capped a turbulent week of trading on Friday with a broad rally for stocks as relief flowed through the market, even as deadly attacks raged in Ukraine.

On Friday, the Dow registered its biggest daily percentage gain since November 2020 with the market rebounding for a second day from the sharp selloff leading up to Russia's invasion of Ukraine.

The Dow Jones Industrial Average rose 834.9 points, or 2.5%, the S&P 500 gained 96 points, or 2.2% and the Nasdaq Composite added 221 points, or 1.6%.

US stock futures are trading on a weak note today with Dow Futures down by 511 points.

An escalating conflict and more severe Western sanctions are roiling markets. The hostilities threaten to stoke inflation by imperilling flows of key resources such as wheat, natural gas, oil and metals, exacerbating the pandemic-era price pressures that were already weighing on global growth.

A key question is how all this may affect the Federal Reserve's plan for a series of interest-rate hikes starting March.

Gold prices rose more than 1% today and were set for their best monthly gain in nine, after Western countries slapped fresh sanctions on Russia for invading Ukraine and President Vladimir Putin put his country's nuclear deterrent on high alert.

Crude oil prices jumped today after western nations imposed new sanctions on Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system.

Back home, Infosys and Brigade Enterprises will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani discusses whether you should be concerned about the Russia and Ukraine war or it's just a temporary blip on the long-term radar.

You can watch the video here: Ukraine: A Temporary Blip on the Long Term Radar

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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