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SGX Nifty Down 48 Points; Indicates Negative Opening for Indian Stock Markets
Mon, 31 May SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:05 am, it was trading down by 48 points, or 0.4% lower at 15,440 levels.

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

Asian stock markets are trading on a negative note today.

The Hang Seng is down 0.2% while the Nikkei is trading lower by 0.8%. The Shanghai Composite is trading down by 0.1%.

In US stock markets, Wall Street indices climbed on Friday as investors brushed off a stronger-than-expected inflation reading.

The S&P 500 ended 0.1% higher, approaching record levels. That took the blue-chip benchmark's rise for the month to 0.6%.

The tech-heavy Nasdaq also added 0.1%, but was down 1.5% for the month. The decline snapped a six-month long winning streak.

Meanwhile, the Dow Jones Industrial Average rose 0.4%.

Stock markets in the US and UK are closed today for a holiday, but US stock futures are still trading in Asia with the Nasdaq up 0.2% and S&P 500 ahead by 0.1%.

Gold prices are trading on a firm note today, above the US$1,900-levels after US consumer prices rose more than expected in April and supported gold as an inflation hedge.

Crude oil prices extended gains, after gaining more than 5% last week to reach two-year closing highs as expectations of a rebound in global demand outweighed concerns about more supply from Iran once sanctions are lifted.

All eyes will be on OPEC this week as it reviews its supply agreement, and any hint of an increase in output could pressure prices.

Back home, BPCL and Dixon Technologies will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, Brijesh Bhatia explains why he thinks the Nifty will cross 16,000 levels.

As per Brijesh banking and financial services stocks will lead the Nifty to a new all-time high.

You can watch the video here: Banks Will Take Nifty To 16,000

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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