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SGX Nifty Up 11 Points; Indicates Flat Opening for Indian Stock Markets
Fri, 2 Jul SGX Nifty

The SGX Nifty opened on a flat note today.

At 8:15 am, it was trading up by 11 points, or 0.1% higher at 15,738 levels.

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

Asian stock markets are trading on a mixed note today amid a rally in US shares, and positive Covid-19 vaccine developments even as the delta virus strain spread in the region.

Both, the Hang Seng and the Shanghai Composite is down by 1.4%. The Nikkei is trading up by 0.4%.

In US stock markets, Wall Street indices finished higher to open the second half of 2021 following reports showing a drop in jobless claims and continued expansion of the manufacturing sector, albeit at a slower pace.

As the markets were closing, the International Monetary Fund upgraded its estimate for US growth in 2021 to 7%, saying the world's biggest economy had enjoyed a 'remarkable recovery.'

The S&P 500 ended at a record for the sixth straight session on Thursday as US stocks continued to rally as the reopening accelerates and economic data generally improves.

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The Dow Jones Industrial Average gained 0.4%, while the tech-rich Nasdaq Composite Index advanced added 0.1%. The broad-based S&P 500 jumped 0.5%.

US stock futures are trading on a flat note today with Dow Futures up by 30 points.

Gold prices held in a tight range today as investors stayed away from making big bets ahead of the US nonfarm payrolls data that could sway Federal Reserve's monetary policy stance.

Crude oil prices rose about 2% on indications that organization of the petroleum exporting countries (OPEC) producers could increase output more slowly than expected in coming months, while rising global fuel demand would continue to tighten supply.

Back home, Tata Steel and GAIL will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani shares why he has turned cautious on the market.

You can watch the video here: Time to Trade Cautiously

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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