Trends on SGX Nifty indicates flat opening for indices

FPJ Web DeskUpdated: Friday, June 11, 2021, 09:22 AM IST
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Trends on SGX Nifty indicates flat opening for indices | pexels

Trends on the SGX Nifty indicate a flat opening for the indices on the bourses. The Nifty Futures were trading higher around 15, 804 level on the Singaporean Exchange.

S&P 500 made a record closing on Wall Street in overnight trade. Asian markets were mixed in Friday morning trade.

Fuel rates up

Petrol and diesel prices have touched new record levels on Friday

According to data from Indian Oil, in Delhi, the petrol prices have gone up by 29 paise in petrol and diesel. Petrol is being retailed at Rs 95.85 per litre and diesel prices to Rs 86.76 per litre. In Mumbai, petrol price stood at Rs 102.04 per litre and diesel at Rs 94.15 per litre.

The price of petrol and diesel in Chennai was Rs 97.19 and Rs 91.42 per litre respectively and Rs 95.80 and Rs 89.60 per litre in Kolkata.

Benchmark Indices are expected to open flat as indicated by trends on SGX Nifty. Dow Jones closed higher on Thursday at its record high after better than expected inflation data.

The 10 years U.S. bond yield fell to a three month low of 1.43 percent. Yesterday the ECB also raised its recovery outlook and committed to purchasing 1.85 trillion euros ($2.2 trillion) of bonds until March 2022.

Asian stocks were mixed in early Friday trade. Korean, Taiwan and Hong Kong indices are trading in green while Chinese and Japanese markets are trading in red.

Stock specific actions due to Q4 results can be witnessed in stocks like BHEL, SUN TV, BEML, Cochin Shipyard, Goa Carbon etc. Immediate resistance levels for Nifty 50 are 15,850 and 16,000 while key support levels for Nifty 50 are 15,500 and 15,300.

Mohit Nigam, Head- PMS, Hem Securities said overall we are quite bullish on markets and believe that any significant dip is a good opportunity to accumulate quality stocks.

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