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SGX Nifty Falls 170 Points; Indicates Gap-Down Opening for Indian Stock Markets
Mon, 19 Apr SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:00 am, it was trading down by 170 points, or 1.2% lower at 14,470 levels.

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

Asian stock markets are trading on a positive note today, helped by expectations monetary policy will remain accommodative while Covid-19 vaccine rollouts helped ease fears of another dangerous wave of coronavirus infections.

The Nikkei is trading up by 0.2% while the Hang Seng is up 0.9%. The Shanghai Composite is trading higher by 0.8%.

In US stock markets, Wall Street indices jumped overnight as technology companies helped lift stocks to a record high.

Stocks edged higher most of the last week as investors remain cautiously optimistic about economic growth and progress against the pandemic.

The Dow Jones Industrial Average gained 297 points, or 0.9% to 33,801. Meanwhile, the Nasdaq rose 71 points or 0.5%.

For the week, the Dow gained 2% while the Nasdaq rose 3.1%.

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US stock futures declined after the S&P 500 and Dow Jones closed at record highs on Friday. Investors will track earnings from IBM and Coca-Cola later in the day.

Dow futures are trading down by 90 points while Nasdaq futures are down by 12 points.

Gold prices rose today, hovering near a seven-week peak hit in the previous session, as a softer dollar and a retreat in US Treasury yields lifted demand for the safe-haven metal.

Bitcoin recouped some of its losses after plunging as much as 14% on Sunday following speculation the US Treasury may be looking at cracking down on money-laundering activity within digital assets.

Here are the key events due later this week:

  • Crude Oil Inventory - Wednesday
  • European Central Bank Rate Decision - Thursday
  • US Manufacturing and Services PMI - Friday

Back home, Mindtree and National Fertilizers will be among the top buzzing stocks today.

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With the coronavirus rearing its head again and looking much more lethal than before, is the risk of a big crash back on the table?

What should be one's strategy should this be the case? Rahul answers all these questions in his latest video.

You can watch the video here: Market Crash: Picture Abhi Baaki Hai?

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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