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SGX Nifty Tanks 422 Points; Indicates Gap-Down Opening for Indian Stock Markets
Mon, 7 Mar SGX Nifty

SGX Nifty Up 293 Points; Indicates Gap-Up Opening for Indian Stock Markets

The SGX Nifty opened on a negative note today.

At 8:15 am, it was trading down by 422 points, or 2.6% lower at 15,828 levels.

Trends on SGX Nifty indicate a gap-down opening for Indian stock markets.

The slump in Indian indices is likely to continue this week as investors remain worried about Russia-Ukraine conflict and rising crude oil prices.

The results for the state Assembly elections will be declared this week, which could also have an impact on the markets.

Asian stock markets continued its downward trend today due to shares in major markets were trading in the red as investors grow increasingly worried about the impact of the Ukraine war on the global economy.

The Hang Seng and the Shanghai Composite are trading down by 3.4% and 1.1%, respectively. The Nikkei is trading down by 3.2%.

In US stock markets, Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in US jobs growth last month that pointed to strength in the economy.

Major sector indexes declined, with financials as investors worried about how the west's sanctions against Moscow may affect the international financial system.

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The Dow Jones Industrial Average fell 0.5%, while the S&P 500 lost 0.8%. The Nasdaq Composite dropped 1.7%.

US stock futures are trading deep in the red today with Dow Futures down by 417 points.

Gold prices today hit the key level of US$2,000 per ounce, as concerns over Russia-Ukraine conflict pushed investors towards safe-haven assets.

Crude oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil.

Back home, Nazara Technologies and Tube Investments will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, Brijesh Bhatia discusses what should be your war-time trading strategy.

You can watch the video here: A Trader's War Room

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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