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SGX Nifty Up 40 Points; Indicates Positive Opening for Indian Stock Markets
Mon, 7 Jun SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:00 am, it was trading up by 40 points, or 0.3% higher at 15,750 levels.

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

Asian stock markets are firm today after the much-awaited May US payrolls report showed the recovery on track.

The Hang Seng is down 0.6% while the Nikkei is trading up by 0.2%. The Shanghai Composite is trading up by 0.1%.

In US stock markets, Wall Street indices rose on Friday, with technology shares leading the way as weaker-than-expected jobs growth eased concerns about the economy running too hot and causing an early tightening of monetary policy.

The Labor Department's report showed nonfarm payrolls increased by 559,000 jobs last month, helped by vaccinations and a reopening economy, following an unexpected slowdown in the labor market in April.

The Dow Jones Industrial Average gained 179 points or 0.5% while the Nasdaq Composite rose 200 points or 1.5%.

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The Dow advanced about 0.7% for the week. While the Nasdaq gained just shy of 0.5% this week for its third winning week in a row.

US stock futures are trading on a flat note today amid optimism about the economy's ongoing reopening this summer.

Dow futures are trading down by 46 points while Nasdaq futures are down 0.2%.

Gold prices are steady today, helped by a pullback in the dollar and lower bond yields.

Crude oil prices extended gains to hit fresh multi-year highs, underpinned by a brighter economic and fuel-demand outlook, while investors eyed the outcome of talks between Iran and world powers over a nuclear deal that is set to boost crude supplies.

Back home, Adani Enterprises and HDFC Bank 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


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