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Indian stock markets expected to surge as SGX Nifty rallies

By Vinu Lal

02:50, 8 October 2021

Representative image of stock market charts
Indian stock market is expected to open in the green – Photo: Shutterstock

Indian stocks are all set for a rally on Friday if SGX Nifty futures index trading on the Singapore Stock Exchange is any indication.

The index which represents Indian stocks were trading up a hefty 1.36% during early trades on Friday following Asian cues.

Investors do not seem to be worried over the Reserve Bank of India’s monetary policy directions scheduled for Friday.

AUD/USD

0.67 Price
+0.450% 1D Chg, %
Long position overnight fee -0.0068%
Short position overnight fee -0.0014%
Overnight fee time 21:00 (UTC)
Spread 0.00006

GBP/JPY

174.27 Price
-0.040% 1D Chg, %
Long position overnight fee 0.0083%
Short position overnight fee -0.0165%
Overnight fee time 21:00 (UTC)
Spread 0.029

USD/JPY

139.80 Price
-0.260% 1D Chg, %
Long position overnight fee 0.0103%
Short position overnight fee -0.0185%
Overnight fee time 21:00 (UTC)
Spread 0.010

GBP/USD

1.25 Price
+0.220% 1D Chg, %
Long position overnight fee -0.0062%
Short position overnight fee -0.0020%
Overnight fee time 21:00 (UTC)
Spread 0.00013

Asian investors, led by Chinese stocks rallied on Friday early trades, after a break, tracking a global rally and Wall Street gains overnight.

The US markets were riding on technology stocks as Dow rose 1%, S&P 500 0.8% and Nasdaq 1.1%. The US Senate on Thursday approved legislation to temporarily raise the federal government’s $28.4trn debt ceiling and avoid the risk of a historic default.

Key things to note before trade 

  • Piramal Enterprises approved a scheme to demerge its pharmaceutical business
  • Zee Entertainment Enterprises granted more time to respond to a previous tribunal order on reconstitution of company board request from minority shareholders
  • TCS to announce its earnings for the September quarter today
  • Energy major Vedanta said it will embed ESG norms into every decision-making process and performance evaluation

Read More: Jobless claims drop, market experts point to improving economy 

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