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SGX Nifty Up 24 Points; Indicates Flat Opening for Indian Stock Markets
Fri, 3 Sep SGX Nifty

The SGX Nifty opened on a flat note today.

At 8:05 am, it was trading up by 24 points, or 0.1% higher at 17,283 levels.

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

Asian stock markets are trading on a steady note today after cyclicals led Wall Street to a record high ahead of a US jobs report that will shape views on the outlook for Federal Reserve monetary policy.

The Hang Seng is trading down by 0.3%, while the Shanghai Composite is trading up by 0.3%. The Nikkei is trading up by 0.9%.

In US stock markets, Wall Street indices moved higher on Thursday after jobless claims data suggested the US labour market was charging ahead even as new Covid-19 infections surge.

Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the Labour Department's monthly jobs report today to set the stage for the Federal Reserve's policy meeting later this month.

US stocks have regularly hit record highs over the past few weeks as a solid corporate earnings season and hopes of continued central bank support underpinned confidence.

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The Dow Jones Industrial Average rose 131.3 points, or 0.4%, the S&P 500 gained 12.9 points, or 0.3% and the Nasdaq Composite added 21.8 points, or 0.1%.

US stock futures are trading on a flat note today with Dow Futures up by 14 points.

Gold prices eked out small gains today, buoyed by a weaker dollar, with investors awaiting the US jobs data to gauge the Federal Reserve's plans to start tapering asset purchases.

Crude oil prices rose more than US$1 a barrel on Thursday, rebounding on optimism about global economic growth despite the coronavirus pandemic, and after US crude inventories fell more than anticipated.

Back home, Adani Green Energy and Minda Corporation will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani, shares his top six day trading hacks.

You can watch the video here: Intraday Trading for Beginners

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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