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SGX Nifty Tanks 176 Points; Indicates Gap-Down Opening for Indian Stock Markets
Fri, 26 Nov SGX Nifty

The SGX Nifty opened deep in the red today.

At 8:20 am, it was trading down by 176 points, or 1% lower at 17,385 levels.

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

Asian stock markets are trading on a negative note today and are headed for their largest weekly drop in nearly two months as a new virus variant added to swirling concerns about future growth and higher US interest rates.

The Hang Seng and the Shanghai Composite are trading down by 2% and 0.4%, respectively. The Nikkei is trading down by 2.4%.

The US stock markets were closed on Thursday, in observance of the national holiday.

On Wednesday, Wall Street indices finished higher ahead of the US Thanksgiving holiday as US Treasury yields hovered near the year's highs.

US stock futures are trading deep in the red today with Dow Futures down by 395 points.

Gold prices set for its worst week in five months, as bullion prices were hammered by increasing bets that the US Federal Reserve would accelerate the pace of stimulus tapering and raise interest rates sooner to curb rising inflation.

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Crude oil prices slid more than 1% today on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States.

Back home, ITC and JSW Energy will be among the top buzzing stocks today.

In his latest video for Fast Profits Daily, Brijesh Bhatia shares the sector to avoid in 2022.

You can watch the video here: The One Sector to Avoid in 2022

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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