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SGX Nifty Down 86 Points; Indicates Negative Opening for Indian Stock Markets
Mon, 5 Apr SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:15 am, it was trading down by 86 points, or 0.6% lower at 14,905 levels.

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

Asian stock markets rose to a 1 1/2-month high after data showed a surge in US employment while short-dated US bonds came under pressure on worries the Federal Reserve may bump up interest rates sooner than it has indicated.

The Nikkei is trading up by 0.8%. Chinese stock markets and Hong Kong remained closed for trading.

In US stock markets, Wall Street indices rose on Thursday, setting record highs, on the back of the strongest manufacturing data around the world in decades and a drop in bond yields that lifted big tech shares.

US President Joe Biden's sweeping US $2.3 trillion plan to rebuild America's crumbling infrastructure added to investor enthusiasm.

The S&P 500 touched a new high as it charged past the 4,000 mark after the Institute for Supply Management said its index of national factory activity soared to its highest level in more than 37 years in March.

The Dow Jones Industrial Average rose 0.5% while the Nasdaq added 1.8% to 13,480.

US exchanges were closed on Friday in observance of Good Friday.

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US stock futures rallied today after data showed the biggest jobs increase in seven months, adding to evidence that the economy is picking up steam.

Investors will now keep an eye on the US services sector data due later today, which is forecast to show an acceleration in activity.

Crude oil prices edged lower in early trade today after OPEC+ agreed last week to gradually ease some of its production cuts between May and July.

Here are the key events due later this week:

  • Reserve Bank of Australia Policy Decision - Tuesday
  • China Consumer and Producer Prices data - Friday

Back home, Bharti Airtel and Tata Motors will be among the top buzzing stocks today.

In the latest Momentum Moves video, Brijesh Bhatia talks about why he is bullish on metal stocks.

You can watch the video here: Metal Stocks to Roar Higher

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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