SGX Nifty Up 134 Points; Indicates Firm Opening for Indian Stock Markets

Fri, 26 Mar SGX Nifty

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   Pre-Open   

   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 134 points, or 1% higher at 14,565 levels.

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

Asian stock markets followed their US peers higher as vaccine distribution bolstered economic optimism despite a climb in global Covid-19 cases.

President Joe Biden doubled his target for administering the vaccines crucial for economic revival.

The Nikkei is trading up by 1.3% while the Hang Seng is up 0.7%. The Shanghai Composite is trading higher by 0.6%.

In US stock markets, Wall Street indices rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery and picked up beaten-down Apple and Tesla shares in anticipation that the US economy grows at its fastest pace in decades this year.

The Nasdaq gained 16 points or 0.1% while the Dow Jones Industrial Average rose 199 points or 0.6%.

The Nasdaq Composite has fallen this month after four straight months of gains as rosy economic projections lifted demand for undervalued cyclical stocks, but also raised fears of higher inflation as seen in the jump in 10-year Treasury yields.

The yield of the benchmark Treasury note rose to 1.6297%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Nasdaq Futures trading up by 44 points. Dow futures are trading up by 58 points.

Brazil on Thursday registered a record 100,158 new coronavirus cases within 24 hours, the Health Ministry said, underlining the scale of a snowballing outbreak that is becoming a major political crisis for President Jair Bolsonaro.

Crude oil prices bounced back today from on concerns that a large container ship that ran aground in the Suez Canal may block the vital shipping lane for weeks, squeezing supply.

Here are the key events due later today:

• India - Bank Deposits & Loan Growth Rates
• US - Personal Spending
• UK - Retail Sales

Back home, Jubilant Foodworks and Wabco India will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani talks about how the Nifty could move this year.

You can watch the video here: Nifty in 2021

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.