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SGX Nifty Down 16 Points; Indicates Flat Opening for Indian Stock Markets
Fri, 29 Oct SGX Nifty

The SGX Nifty opened on a negative note today.

At 8:15 am, it was trading down by 16 points, or 0.1% lower at 17,885 levels.

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

Asian stock markets are trading on a mixed note today as traders weighed bond-market gyrations on concerns over inflation and monetary tightening.

Japan's factory output shrank for the third straight month in September as the auto sector was hit by a persistent global supply shortage, raising the risk of an economic contraction in the third quarter and throwing the recovery into doubt.

The Hang Seng is trading down by 0.3%, while the Shanghai Composite is trading on a flat note. The Nikkei is trading down by 0.1%.

In US stock markets, Wall Street indices reached record levels on Thursday as strong earnings from major companies bolstered investor confidence.

Major indices closed higher with the S&P 500 and Nasdaq boasting record closing levels thanks partly to gains in Apple and Amazon, while solid results from companies including Caterpillar and Merck helped ease concerns about slowing economic growth denting profits.

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The Dow Jones Industrial Average closed up 239.8 points, or 0.7%, the S&P 500 gained 44.7 points, or 1% and the Nasdaq Composite added 212.3 points, or 1.4%.

US stock futures are trading on a flat note today with Dow Futures down by 25 points.

Gold prices today were set to mark a third straight weekly gain as a retreat in US bond yields and a tepid dollar lifted bullion's safe-haven appeal.

Crude oil prices dipped yesterday but settled off two-week lows as concerns about US supply growth vied with speculation that Iran's supply could come online following nuclear talks with global powers.

Back home, Bajaj Finserv and IRCTC will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, Brijesh Bhatia shares his short-term view on the Nifty.

Brijesh believes, despite the recent bearishness in the market, the Nifty is still in a bullish trend. In other words, the bulls are still in control of the Nifty.

You can watch the video here: The Bulls are Still in Control of the Nifty

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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