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- Indian Stock Market News June 4, 2021
SGX Nifty Down 15 Points; Indicates Flat Opening for Indian Stock Markets Fri, 4 Jun SGX Nifty
The SGX Nifty opened on a negative note today.
At 8:05 am, it was trading down by 15 points, or 0.1% lower at 15,680 levels.
Trends on SGX Nifty indicate a flat opening for Indian stock markets.
Asian stock markets are trading on a negative note today as signs of a strengthening US recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus.
The Hang Seng is down 0.1% while the Nikkei is trading lower by 0.5%. The Shanghai Composite is trading down by 0.1%.
In US stock markets, Wall Street indices ended lower as investors backed away from big bets over concerns of inflation ahead of the release of US jobs data.
The Dow Jones Industrial Average fell 23 points or 0.1% while the Nasdaq Composite dropped 142 points or 1%.
Stocks got some relief into the close on reports that President Joe Biden is willing to compromise over a proposed corporate tax hike.
While broader stock markets remain close to record highs, the momentum seen earlier in the year has ebbed as investors worry a stronger-than-expected rebound from Covid-19 means higher inflation and sooner-than-expected monetary policy tightening.
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US stock futures are trading on a negative note today with Dow Futures down by 35 points.
Gold prices are muted today, following a 2% tumble yesterday, its biggest since February, amid a stronger dollar.
Crude oil retreated from more than two-year highs after weekly US crude stocks fell sharply while fuel inventories rose more than expected.
Here are the key events due later today:
- US - Non-Farm Payrolls & Unemployment Rate - May
- India - Bank Deposit & Loan Growth & Forex Reserves
- India - Interest Rate Decision
Back home, Wipro and Adani Green Energy will be among the top buzzing stocks today.
In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani explains why he thinks the Nifty can rise higher.
In the video, Vijay explains why he believe strongly in trading indices over stocks.
You can watch the video here: Why the Nifty Can Rise Higher
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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