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SGX Nifty Down 85 Points; Indicates Weak Opening for Indian Stock Markets
Fri, 30 Jul SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:05 am, it was trading down by 85 points, or 0.5% lower at 15,755 levels.

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

Asian stock markets dipped today as traders weighed signs of a slowdown ahead for mega-cap technology companies and risks from China's regulatory crackdown.

Hong Kong's Hang Seng index slipped 1%, while the Shanghai Composite lost 0.9%. The Nikkei is trading down by 1.3%.

In US stock markets, Wall Street indices bounded to record highs on Thursday, boosted by robust US earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.

The US economy grew solidly in the second quarter, putting the level of gross domestic product (GDP) above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.

The Dow and S&P 500 hit intraday record highs early in the session.

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The Dow Jones Industrial Average rose 153.6 points, or 0.4%, to 35,084.5, the S&P 500 gained 18.5 points, or 0.4%, to 4,419.2 and the Nasdaq Composite added 15.7 points, or 0.1%, to 14,778.3.

US stock futures are trading on a negative note today with Dow Futures down by 67 points.

Gold prices held near a two-week high today, and were set for their biggest weekly gain in more than two months, on renewed signs that the US Federal Reserve may not taper economic support and hike interest rates in the near term.

Crude oil prices fell today but were on track to post solid gains for the week with demand growing faster than supply, while vaccinations dampen the impact of a resurgence in coronavirus cases worldwide.

Back home, Tech Mahindra and Tata Motors will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani , shares how you can change the way you trade in volatile markets.

You can watch the video here: Your Trading Style in Volatile Markets

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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