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SGX Nifty Down 62 Points; Indicates Negative Opening for Indian Stock Markets
Mon, 14 Jun SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:05 am, it was trading down by 62 points, or 0.4% lower at 15,760 levels.

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

Asian stock markets are mixed today in holiday-thinned trading as investors prepared for a key Federal Reserve meeting later in the week.

While most Asian markets will remain closed, Japan's Nikkei surged at market open. It is presently trading up by 0.5%.

In US stock markets, Wall Street indices ended higher on Friday, with the S&P 500 pushing to another record close as bond yields fell, despite data on Thursday showing inflation running hot.

The Dow Jones Industrial Average gained 13 points or 0.1% while the Nasdaq Composite rose 49 points or 0.4%.

For the week, the Dow fell 0.8%, while the S&P 500 rose 0.4%, for its third straight positive week. The Nasdaq Composite was the outperformer with a gain of nearly 1.9%, posting its fourth winning week in a row.

US stock futures are steady today as investors digested the S&P 500's record level heading into a week with a key Federal Reserve meeting.

Dow futures are trading up by 23 points while Nasdaq futures are up 0.1%.

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The Fed's two-day policy meeting will likely dominate investor sentiment this week. Although the central bank is not expected to take any action, its forecasts for interest rates, inflation and the economy could move the markets.

Crude oil prices traded near multi-year highs today, underpinned by an improved outlook for demand as increased Covid-19 vaccinations help lift travel curbs.

Boosting cryptocurrency sentiment, Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners.

Following the above news, Bitcoin gained 10% to around US$ 39,000.

Back home, eClerx Services and Suven Pharma will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani shares the best 'unlock' investments you can make in the market.

You can watch the video here: My 'Unlock' Investments

To know the top cues in today's stock market session, check out the preopen 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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