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SGX Nifty Up 33 Points; Indicates Flat Opening for Indian Stock Markets
Mon, 18 Oct SGX Nifty

The SGX Nifty opened on a flat note today.

At 8:00 am, it was trading up by 33 points, or 0.2% higher at 18,437 levels.

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

Asian stock markets are trading on a mixed note today ahead of the release of Chinese economic data for the third quarter, as investors fret about the health of the world's second-largest economy even as US companies report strong quarterly earnings.

The Hang Seng and the Shanghai Composite are trading down by 0.6% and 0.7%, respectively. The Nikkei is trading down by 0.3%.

In US stock markets, Wall Street indices climbed on Friday and the main indexes were set for weekly gains after Goldman Sachs capped a strong earnings season for big banks, while a surprise rise in retail sales raised optimism about economic recovery.

The Dow Jones Industrial Average jumped 1.1% in its best weekly performance since 25 June 2021. The S&P 500 climbed 0.8% to notch its best week in 2-1/2 months, and the Nasdaq Composite added 0.5%.

US stock futures are trading on a strong note today with Dow Futures up by 408 points.

Gold prices edged up today, recouping some losses after a steep sell-off in the previous session as US bond yields and the dollar softened, restoring some of the precious metal's appeal.

Crude oil prices hit their highest in years today as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel.

Back home, Avenue Supermarts and HDFC Bank will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, India's #1 trader, Vijay Bhambwani talks about market linked debentures (MLDs) and why you should consider investing in them.

You can watch the video here: Market linked debentures

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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