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SGX Nifty Up 48 Points; Indicates Positive Opening for Indian Stock Markets
Fri, 12 Nov SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:10 am, it was trading up by 48 points, or 0.3% higher at 17,975 levels.

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

Asian stock markets are trading on a positive note today as a shock from a surprisingly strong US inflation reading ebbed, with investors now hopeful that the worst price hikes could be soon over.

The Hang Seng is trading up by 0.5%, while the Shanghai Composite is trading on a flat note. The Nikkei is trading up by 1.1%.

In US stock markets, Wall Street indices rebounded on Thursday from two days of inflation-driven selloff.

A record-breaking rally in Wall Street's main indexes had come to an end earlier this week as recent inflation reports suggested that the current spike in prices will take longer to cool amid snarled global supply chains.

The Dow Jones Industrial Average slid 0.4% on the back of losses in Walt Disney due to slowing subscriber growth in its streaming video service. The Nasdaq Composite advanced 0.5% and the S&P 500 added 0.1%.

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US stock futures are trading on a positive note today with Dow Futures up by 80 points.

Gold prices were flat today but was set for its biggest weekly jump in six months, as high US consumer prices drove interest in the metal as an inflation hedge.

Crude oil price settled slightly higher on Thursday, as the market grappled with a stronger US dollar along with concern over increasing US inflation, and after organization of the petroleum exporting countries (OPEC) cut its 2021 oil demand forecast due to high prices.

Back home, Page Industries and Tata Steel will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, Brijesh Bhatia discusses why this is the right time to trade in hotel stocks.

You can watch the video here: Why I'm Bullish on Hotel Stocks

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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