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SGX Nifty Up 56 Points; Indicates Positive Opening for Indian Stock Markets
Fri, 28 May SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:05 am, it was trading up by 56 points, or 0.4% higher at 15,470 levels.

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

Asian stock markets are trading on a positive note today, on course for a seventh day of gains as investors bet the US will lead the world out of the pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration.

The Hang Seng is up 0.3% while the Nikkei is trading up by 2%. The Shanghai Composite is trading down by 0.1%.

In US stock markets, Wall Street indices ended marginally higher as data showing improvement in the labour market helped bolster expectations in the economic recovery.

The Dow Jones Industrial Average rose 0.4%, while the Nasdaq Composite ended on a flat note.

The number of Americans filing new unemployment claims dropped more than expected last week to a 14-month low of 406,000 as pandemic restrictions continue to be lifted, while a separate report showed business spending on equipment picked up speed.

European share markets inched higher on Thursday, while German shares fell after pharmaceuticals stocks were hit by a court ruling.

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US stock futures are trading on a strong note with the Dow futures trading up by 155 points while Nasdaq futures are up 27 points.

Gold prices are trading on a flat note today as an uptick in dollar and US Treasury yields pressured bullion while investors also awaited crucial US inflation data, scheduled to be released later today.

Crude oil prices extended yesterday's gains, bolstered by strong US economic data.

Here are other key events due later today:

  • US - Personal Spending - April
  • US - Baker Hughes Oil Rig Count

Back home, TCS and Zydus Wellness will be among the top buzzing stocks today.

Market participants will also track Sun Pharma share price and Eicher Motors share price as these companies announced their March quarter results yesterday, post market hours.

Indian share markets remained volatile yesterday but gained traction in the last hour of trade to push the NSE Nifty above 15,300 to a record closing high.

In one of his videos for Fast Profits Daily, India's #1 trader, Vijay Bhambwani explains why he thinks the bull market in crude oil is not sustainable.

You can watch the video here: Why Oil Won't Go to US$100

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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