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SGX Nifty Indicates a Flat Opening for Indian Stock Markets
Fri, 24 Sep SGX Nifty

The SGX Nifty opened on a flat note today.

At 8:10 am, it was trading up by 3 points, or 0.1% higher at 17,845 levels.

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

Asian stock markets are trading on a positive note today following their US peers, which were buoyed after the Federal Reserve avoided any nasty surprises in its policy statement and said it could soon begin scaling down its asset purchases.

The Hang Seng is trading on a flat note, while the Shanghai Composite is trading up by 0.2%. The Nikkei is trading up by 1.9%.

In US stock markets, Wall Street indices jumped for a second day as fears around a crisis in China's property market eased somewhat and as the Federal Reserve kept current monetary stimulus in place for just a little bit longer.

Investors are optimistic that a looming reduction in Federal Reserve's stimulus shows confidence in the recovery from the pandemic.

The US market got an additional boost from the Fed on Wednesday afternoon with the central bank indicating no immediate removal of stimulus policies. The central bank issued a statement following the meeting that said if progress continues 'as expected,' then a 'moderation in the pace of asset purchases may soon be warranted.'

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The Dow Jones Industrial Average rose 506 points, or 1.5%, the S&P 500 gained 53.3 points, or 1.2% and the Nasdaq Composite added 155.4 points, or 1%.

US stock futures are trading on a flat note today with Dow Futures down by 20 points.

Gold prices edged higher today after falling more than 1% in the previous session, helped by a subdued dollar, although Federal Reserve's plans on reducing stimulus to the US economy kept the bullion on track for a third straight week of declines.

Crude oil prices rose on Thursday, with Brent crude touching its highest level in more than two months, supported by growing fuel demand and a draw in US crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.

Back home, Infosys and Bharti Airtel will be among the top buzzing stocks today.

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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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