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Indian stock markets look nervous even as SGX Nifty recovers

By Vinu Lal

03:18, 10 December 2021

Stock market chart
SGX Nifty index in Singapore was trading down 0.15% – Photo: Shutterstock

Indian stocks are looking at a nervous opening even as SGX Nifty futures, representing Indian stocks on Singapore Stock Exchange recovered during morning trade on Friday.

SGX Nifty was trading 0.15% down about an hour before Indian markets opened. The index had plunged to 0.30% earlier in the day.

Investors across Asia look worried as they await the US inflation data and also because of concerns over the new Covid variant.

Wall Street indices closed lower on Thursday as investors booked profits after three consecutive trading sessions of gains and in anticipation of inflation data and how it could impact the US Federal Reserve’s upcoming meeting next week.


1.09 Price
-0.050% 1D Chg, %
Long position overnight fee -0.0080%
Short position overnight fee -0.0003%
Overnight fee time 22:00 (UTC)
Spread 0.00070


1.27 Price
+0.640% 1D Chg, %
Long position overnight fee -0.0046%
Short position overnight fee -0.0036%
Overnight fee time 22:00 (UTC)
Spread 0.00170


0.67 Price
+1.060% 1D Chg, %
Long position overnight fee -0.0073%
Short position overnight fee -0.0009%
Overnight fee time 22:00 (UTC)
Spread 0.00040


0.67 Price
+1.060% 1D Chg, %
Long position overnight fee -0.0073%
Short position overnight fee -0.0009%
Overnight fee time 22:00 (UTC)
Spread 0.00040

Dow Jones Industrial Average fell 0.06%, S&P 500 lost 0.72% on Thursday.

Having displayed strength in the current upside bounce, the chances of minor downward correction or consolidation is likely in the coming sessions, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Any minor weakness or consolidation from this hurdle in the next one to two sessions could mean a higher possibility of a sharp upside breakout of the hurdle in the near term, he added.

Things to note before trade

  • Star Health and Allied Insurance to begin trading on Friday. The initial share sale of the company was open for subscription between November 30 and December 2
  • One97 Communications, known for its Paytm brand, has been given the scheduled bank status by the Reserve Bank of India
  • Ujjivan Small Finance Bank has raised interest rates on deposits across various tenures
  • AstraZeneca said it has initiated engagements with Indian health authorities to provide the latest evidence of Evusheld, its Covid-19 prevention drug for people with weak immune systems which has received emergency use authorisation in the US

Read More: US mid-day: Stocks fall as traders pause on economic reports

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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