The SGX Nifty opened on a flat note today.
At 8:15 am, it was trading down by 12 points, or 0.1% lower at 17,360 levels.
Trends on SGX Nifty indicate a flat opening for Indian stock markets.
Asian stock markets are trading on a cautious note today ahead of the important US and Chinese economic data and the launch of Apple’s latest iPhones due later this week.
The Hang Seng is trading down by 1.7%, while the Shanghai Composite is trading up by 0.2%. The Nikkei is trading down by 0.3%.
In US stock markets, Wall Street indices finished lower on Friday as doubts about the resilience of the global economic recovery hurt former reopening darlings in energy, hotels and travel.
Data on Friday showed US producer prices increased solidly in August, leading to the biggest annual gain in nearly 11 years. The reading sent the benchmark US 10-year Treasury yield higher.
The Dow Jones Industrial Average was down 270 points, 0.8% on Friday. The index was down for a fifth straight day and shed 2.2% last week, a second consecutive week of decline for the index.
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The S&P500 also declined 1.7% over the week and closed 35 points or 0.8% lower on Friday. The index last week dropped the most since mid-June on investor caution over the challenges for economic reopening from the delta virus strain.
The Nasdaq Composite ended the week down 133 points or 0.9% after a landmark ruling against Apple. The Nasdaq has declined 1.6% through last week after advancing 2 consecutive weeks preceding last week.
US stock futures are trading on a positive note today with Dow Futures up by 60 points.
Gold prices were subdued today as the dollar held firm, while cautious investors awaited readings on US consumer prices due this week that could be crucial to Federal Reserve’s decision on when to exit its super-supportive policy.
Crude oil prices climbed today to a one-week high in a second straight session of gains as concerns over US supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.
Back home, Tata Power and Greaves Cotton will be among the top buzzing stocks today.
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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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