SGX Nifty Up 87 Points; Indicates Firm Opening for Indian Stock Markets

Mon, 8 Mar SGX Nifty

   Pre-Open   

   Momentum Moves   

   09:30 am   

   12:30 pm   

   Closing   

The SGX Nifty opened on a positive note today.

At 8:10 am, it was trading up by 87 points, or 0.6% higher at 15,040 levels.

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

Asian stock markets rallied today after the US Senate passage of a US$ 1.9 trillion stimulus bill and a surprisingly strong payrolls report predicted well for a global economic rebound.

Sentiment also got a boost as China's exports surged 155% in February compared with a year earlier when much of the economy shut down to fight the coronavirus.

The Nikkei is trading up by 0.9% while the Hang Seng is down 0.5%. The Shanghai Composite is trading higher by 0.2%.

In US stock markets, Wall Street's main indexes rebounded sharply on Friday in whipsaw trade, as the rise in bond yields steadied, after a stronger-than-expected monthly jobs update from the labor department that offered evidence of an economy recovering from the effects of Covid-19.

The yield on the 10-year treasury note was down about 1 basis point to 1.553%, after a sharp rise last week in the wake of comments from Federal Reserve Chairman Jerome Powell on Thursday that were seen as insufficiently concerned about the possibility of inflation as the economy recovers with help from another dose of fiscal stimulus from Washington.

All major sectors in the S&P 500 index gained while the tech-heavy Nasdaq climbed more than 1.5% as giants Amazon.com Inc. and Apple Inc. recovered but the index still closed lower for the week.

The Dow Jones Industrial Average ended higher by 572 points or up by 1.9%.

For the week, the Dow gained 1.8% while the Nasdaq ended down by 2.1%.

US stock futures are trading lower today indicating a negative opening for Wall Street indices with Nasdaq Futures trading down by 96 points.

Crude oil prices rose today, with Brent crude futures jumping above US$ 70 a barrel for the first time since the Covid-19 pandemic began, while US crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities.

Yemen's Houthi forces fired drones and missiles at the heart of Saudi Arabia's oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security.

Here are the key events due later this week:

• US - Initial Jobless Claims & Natural Gas Storage - Thursday
• Japan - GDP Q4 - Tuesday
• India - Bank Deposit and Loan Growth & Forex Reserves - Friday

Back home, Wipro and Vodafone Idea will be among the top buzzing stocks today.

In our latest Momentum Moves video, Brijesh Bhatia explains why the Nifty is in for a time correction and why the Bank Nifty is looking weak in the short-term.

Nifty is trading in a rising channel pattern and is hovering in the range of 14,450-15,300. As per Brijesh, time correction can be expected till the index trades in this zone.

Meanwhile, the Bank Nifty to Nifty ratio chart indicates an underperformance of Bank Nifty as we are witnessing the breakdown of the rising wedge.

As per Brijesh, bears may accelerate on the break of 34,800, towards the level of 33,600-33,800 in the truncated week ahead.

You can watch the video here: A Time Correction in the Nifty

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers