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SGX Nifty Up 134 Points; Indicates Firm Opening for Indian Stock Markets
Mon, 13 Dec SGX Nifty

The SGX Nifty opened on a positive note today.

At 8:00 am, it was trading up by 134 points, or 0.8% higher at 17,669 levels.

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

Asian stock markets are trading on a positive note today on hopes that the global economic recovery can weather the omicron virus variant as well as tighter central bank policies to fight elevated inflation.

The Hang Seng and the Shanghai Composite are trading up by 1.5% and 1%, respectively. The Nikkei is trading up by 0.9%.

In US stock markets, Wall Street advanced on Friday as market participants digested an inflation reading that was in line with consensus, but also marked the largest annual increase in consumer prices in nearly four decades.

All the indexes ended the session higher and the benchmark S&P 500 posted its biggest weekly percentage advance since February, as waning jitters over the Omicron coronavirus variant helped fuel a broad rally early in the week.

The Dow Jones Industrial Average rose 216 points, or 0.6%, the S&P 500 gained 45 points, or 1% and the Nasdaq Composite added 113 points, or 0.7%.

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US stock futures are trading on a positive note today with Dow Futures up by 127 points.

On Wednesday, the Federal Reserve is expected to speed up stimulus withdrawal, and perhaps open the door to earlier interest-rate hikes in 2022 if price pressures stay near a four-decade peak.

About 20 central banks are due to hold meetings this week, including the Fed, the European Central Bank and the Bank of England. Those decisions have the potential to stir market swings.

Gold prices inched higher today as elevated US consumer prices lifted its appeal as an inflation hedge, while investors awaited a flurry of central bank meetings this week, including by the US Federal Reserve, for further direction.

Crude oil prices rose today, extending gains from last Friday, helped by growing optimism that the Omicron coronavirus variant's impact will be limited on global economic growth and fuel demand.

Back home, Bajaj Electricals and Star Health will be among the top buzzing stocks today.

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In the video, Vijay discusses about the silver ETFs, which are now becoming a very rapid reality in the Indian equity markets.

You can watch the video here: Silver ETFs: A Shiny New Investment

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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