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- Indian Stock Market News April 23, 2021
SGX Nifty Down 52 Points; Indicates Negative Opening for Indian Stock Markets Fri, 23 Apr SGX Nifty
The SGX Nifty opened on a negative note today.
At 8:05 am, it was trading down by 52 points, or 0.4% lower at 14,350 levels.
Trends on SGX Nifty indicate a negative opening for Indian stock markets.
Asian stock markets are trading on a mixed note today. The Nikkei is trading down by 0.8% while the Hang Seng is up 0.9%. The Shanghai Composite is trading higher by 0.2%.
In US stock markets, Wall Street indices ended sharply lower on Thursday, seeing the biggest one-day slide since early March, following a news report that said President Joe Biden is weighing a proposal which would nearly double the capital-gains tax for wealthy individuals.
Equities gave up modest gains to end lower after reports emerged that Biden would propose nearly doubling the capital-gains tax rate for Americans earning more than US$ 1 million a year to 39.6% from the current base rate of 20%.
White House Press Secretary Jen Psaki said "we're still finalizing what the pay-fors look like," after being asked about the capital gains tax plan at a press briefing Thursday.
The Dow Jones Industrial Average fell 321 points, or 0.9%, the largest one day point and percentage decline since Thursday, March 4, 2021. The Nasdaq also fell 0.9%.
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US stock futures are trading on a positive note today, with the Dow futures trading up by 58 points while Nasdaq futures are up by 24 points.
Gold prices rose today and was poised for a third straight weekly rise as a softer US dollar, falling Treasury yields and a dip in US equities encouraged investors to flock towards bullion.
Here are the key events due later today:
- India - Bank Deposit & Loan Growth Rate and Forex Reserves
- US - Manufacturing & Services PMI - April
- Russia - Interest Rate Decision
Back home, KEC International and Tata Steel will be among the top buzzing stocks today.
In his latest video for
Vijay has been warning for a while now about how he thinks the market could witness a decline.
Now that it looks like the market is going to fall, Vijay provides the knowledge you need to pick the best stocks to make fast profits.
You can watch the video here: How to Pick Stocks After a Fall
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
Indian Share Market Update: Top Gainers and Losers
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