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SGX Nifty Up 165 Points; Indicates Gap-Up Opening for Indian Stock Markets
Mon, 27 Sep SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:15 am, it was trading up by 165 points, or 0.9% higher at 18,014 levels.

Trends on SGX Nifty indicate a gap-up opening for Indian stock markets.

Asian stock markets got off to a cautious start today amid a jump in oil prices and uncertainty over the Evergrande saga, as the Chinese firm missed a payment on offshore bonds last week, with further payment due this week.

The Hang Seng is trading up by 0.7%, while the Shanghai Composite is trading down by 0.4%. The Nikkei is trading up by 0.4%.

In US stock markets, Wall Street indices ended flat on Friday as markets consolidate after the Federal Reserve outlook on rates and tapering of bond buying.

Treasury bond yields closed at almost 3-month highs hitting 1.45% while the US$ index also gained and closed at 93.24, with oil prices hitting 2-year highs.

The Dow Jones Industrial Average gained 33 points, or 0.1%, the S&P 500 edged 0.2% higher and the Nasdaq Composite ended on a flat note.

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US stock futures are trading on a firm note today with Dow Futures up by 175 points.

The week is packed with US Federal Reserve speeches led by Chair Jerome Powell on Tuesday and Wednesday, with more than a dozen other events on the calendar.

Eyes will also be on US fiscal policy with the House of Representatives due to vote on a US$1 trillion infrastructure bill this week, while a 30 September deadline on funding federal agencies could force the second partial government shutdown in three years.

Gold prices edged higher today as persistent concerns over the fate of debt-laden property giant China Evergrande and its broader impact bolstered the precious metal's safe-haven appeal.

Oil pushed past its July peaks as global output disruptions forced energy companies to pull large amounts of crude out of inventories, while a shortage of natural gas in Europe pushed costs up across the continent.

Back home, PVR and Inox Leisure 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 profit from the alcohol stocks cycle.

You can watch the video here: Profit from the Alcohol Stocks Cycle

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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