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SGX Nifty Trades 136 Points Higher; Indicates Gap-Up Opening for Indian Stock Markets
Mon, 10 May SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:05 am, it was trading up by 136 points, or 1% higher at 15,005 levels.

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

Asian stock markets rose today amid speculation that interest rates will remain low due to receding inflationary pressure.

US nonfarm payrolls data on Friday showed jobs growth unexpectedly slowed in April, which gave equities a lift but put downward pressure on the dollar and US Treasury yields.

The Hang Seng is trading up by 0.2% while the Nikkei is up 0.8%. The Shanghai Composite reversed early losses and is presently up 0.1%.

In US stock markets, a lacklustre monthly jobs report sparked a rebound in technology shares and other growth stocks on Friday, helping send the S&P 500 and Dow Jones Industrial Average to fresh record highs. The milestones marked the respective indexes' 26th and 24th record closes of 2021.

The monthly jobs report showed employers added 266,000 jobs in April and the unemployment rose to 6.1%.

The Dow Jones Industrial Average rose 229 points, or 0.7% to 34777.76, while the Nasdaq added 119 points or 0.9%.

For the week, the Dow gained 903 points, or 2.7% while the Nasdaq fell 1.5%.

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European stock markets closed at a record high on Friday, marking strong weekly gains as positive economic data and upbeat earnings underpinned hopes of a swift economic recovery from the pandemic.

US stock futures are trading higher today with Dow futures trading up by 114 points while Nasdaq futures are up 37 points.

Gold prices hovered near three-month highs hit last week after weaker-than-expected US jobs data cemented hopes that interest rates will stay low for some time, pressuring the dollar and boosting bullion's appeal.

Back home, Tata Consumer and Adani Transmission will be among the top buzzing stocks today.

Indian share markets had closed in the green for the third consecutive day in a row on Friday pushing the NSE Nifty back above 14,800 levels.

HFCL, Intellect Design, Zydus Wellness and Chambal Fertilizers are among companies that will announce their March quarter results today.

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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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