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- Indian Stock Market News April 26, 2021
SGX Nifty Up 80 Points; Indicates Positive Opening for Indian Stock Markets Mon, 26 Apr SGX Nifty
The SGX Nifty opened on a positive note today.
At 8:00 am, it was trading up by 80 points, or 0.6% higher at 14,420 levels.
Trends on SGX Nifty indicate a positive opening for Indian stock markets.
Asian stock markets are trading on a positive note today, rising for the third straight session as risk appetite was aided by recent data showing the world economic recovery from the coronavirus pandemic was well on track.
The Nikkei reversed early losses and is presently trading up by 0.2% while the Hang Seng is up 0.1%. The Shanghai Composite is trading higher by 0.4%.
US stock markets rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax.
The Dow Jones Industrial Average gained 228 points, or 0.7% amid a jump in Goldman Sachs and JPMorgan shares. The Nasdaq also climbed 1.4%.
Indices came off a turbulent session after multiple news outlets reported Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich.
Bloomberg reported that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning US$ 1 million or more, up from 20% currently.
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The Dow and the Nasdaq fell 0.5% and 0.3% for the week, respectively.
US stock futures are trading flat, with the Dow futures trading up by 14 points while Nasdaq futures are up by 11 points.
Gold prices rose today, helped by a soft dollar ahead of the US Federal Reserve policy meeting this week.
First-quarter US gross domestic product (GDP) data is due later this week with expectations activity will have likely returned to pre-pandemic levels.
Back home, Rallis India and Power Grid will be among the top buzzing stocks today.
In his latest video for Fast Profits Daily, Brijesh Bhatia talks about the Nifty and Bitcoin.
Nifty and bitcoin have been very volatile in recent weeks. In the video, Brijesh explains why he is expecting the bearish momentum to end soon.
As per Brijesh, Nifty is likely to find the lost ground in the range of 13,964-14,071 as we are witnessing multiple support zones as per technical and derivatives structure.
Meanwhile, Bitcoin falling off the cliff on political drama is likely to take a pause in the zone of US$ 45,000 - US$ 46,000 as the support is placed with Fibonacci time cycle.
You can watch the video here: Nifty & Bitcoin This Week
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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