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SGX Nifty Up 115 Points; Indicates Firm Opening for Indian Stock Markets
Thu, 1 Apr SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:05 am, it was trading up by 115 points, or 0.8% higher at 14,860 levels.

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

Asian stock markets are trading on a positive note today as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.

The Nikkei is trading up by 1.3% while the Hang Seng is up 1.2%. The Shanghai Composite is trading higher by 0.4%.

In US stock markets, Wall Street indices rose overnight, closing out March and the first quarter on a high note as investors rotated back into high-growth tech while weighing President Joe Biden's big infrastructure spending plan.

The tech-heavy Nasdaq Composite surged 1.5% as Apple, Microsoft and Facebook all gained at least 1.6%. Shares of Tesla jumped more than 5%. Meanwhile, the Dow Jones Industrial Average slipped 0.3%.

The Dow climbed 6.6% in March, posting its best month since November and the fourth positive month in five. For the quarter, it gained 7.8%, its fourth positive quarter in a row.

The Nasdaq was the relative underperformer as technology stocks are especially sensitive to rising rates. For March, the Nasdaq gained 0.4%. For the quarter, it gained 2.8%.

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The 10-year Treasury yield traded flat on Wednesday at 1.73% after notching a 14-month high of 1.77%.

The dollar hit a one-year high against the yen and multi-month peaks with other currencies as investors bet US fiscal stimulus and aggressive vaccinations will help the United States lead a global pandemic recovery.

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 12 points.

Here are the key events due later today:

  • India - Export, Import & Trade Balance
  • US - Natural Gas Storage
  • UK - Manufacturing PMI
  • Back home, Tata Consumer Products and UltraTech Cement will be among the top buzzing stocks today.

    In his latest video for Fast Profits Daily, Brijesh Bhatia talks about how he goes about picking stocks for trading.

    In the video, Brijesh shares the simple three step process he uses to identify trades in the stock market.

    You can watch the video here: My Stock Trading Strategy

    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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