The SGX Nifty opened on a negative note today.
At 8:20 am, it was trading down by 190 points, or 1.2% lower at 15,560 levels.
Trends on SGX Nifty indicate a gap-down opening for Indian stock markets.
Asian stock markets are negative today after Treasury yields fell as traders soured on the reflation trade in the wake of a hawkish pivot by the Federal Reserve.
The Hang Seng and the Shanghai Composite is down 1.2% and 0.1%, respectively.
Japan's Nikkei led declines with a 3.4% drop and dipped below 28,000 for the first time in a month.
In US stock markets, Wall Street indices ended lower as US stocks retreated Friday, as traders warily eyed the Federal Reserve for hints of where monetary policy is headed.
Benchmark 10-year US Treasury yields fell to the lowest since early March at 1.4110%, while those on 30-year bonds slid as low as 1.9990% for the first time in more than four months.
The Dow Jones Industrial Average had its worst week since the week ended October 30. The index of blue-chip stocks on Friday fell 1.6%, or 533.4 points, to 33,290.1. For the week, it lost 3.5%.
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The S&P 500 declined 1.3%, or 55.4 points, to 4,166.5 on Friday, losing 1.9% on the week. That broke a three-week streak of gains. The Nasdaq Composite lost 0.9%, or 131 points, to 14,030.4, as large technology stocks also fell. For the week, it was down 0.3%.
U.S. stock futures pointed to further selling when Wall Street reopens, easing 0.2% after Friday's 1.3% slide in the S&P 500.
Dow futures and the Nasdaq futures are trading down by 153 points and 22 points, respectively.
Gold prices firmed on Monday, after posting a 6% drop last week, as a retreat in U.S. Treasury yields boosted the allure of the non-yielding metal.
Crude oil rose for a second day, with the initial move triggered by OPEC sources saying the producer group expected limited U.S. oil output growth this year despite rising prices.
Back home, HPCL and HDFC Bank will be among the top buzzing stocks today.
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You can watch the video here: Why You Should Care About the Fed
To know the top cues in today's stock market session, check out the preopen commentary here.
Stay tuned for more updates on Indian stock markets in the upcoming commentary.
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Read the latest Market Commentary
What else is happening in the markets today? Dig in...
MARICO share price has hit an all time high at Rs 527 (up 0.8%). The BSE FMCG Index is up by 0.2%. Among the top gainers in the BSE FMCG Index today are MARICO (up 0.8%) and GSK CONSUMER (up 5.1%). The top losers include BRITANNIA (down 0.1%) and ITC (down 0.1%).
Jun 21, 2021 09:36 AMCYIENT share price is trading up by 6% and its current market price is Rs 919. The BSE IT is down by 0.4%. The top gainers in the BSE IT Index is CYIENT (up 5.9%). The top losers are ZENSAR TECHNOLOGIES (down 0.2%) and MINDTREE (down 0.3%).
Jun 21, 2021 09:32 AMBANDHAN BANK share price is trading up by 6% and its current market price is Rs 334. The BSE BANKEX is down by 1.2%. The top gainers in the BSE BANKEX Index is BANDHAN BANK (up 5.6%). The top losers are CITY UNION BANK (down 0.2%) and HDFC BANK (down 0.7%).
Jun 21, 2021 09:28 AMRELIANCE POWER share price has hit a 52-week high. It is presently trading at Rs 17. BSE 500 Index is down by 0.8% at 21,144. Within the BSE 500, RELIANCE POWER (up 3.5%) and CENTRUM CAPITAL (up 14.3%) are among the top gainers, while top losers are DHFL and ADANI TOTAL GAS.
Jun 21, 2021 09:26 AMCENTRUM CAPITAL share price is trading up by 10% and its current market price is Rs 55. The BSE 500 is down by 0.9%. The top gainers in the BSE 500 Index is CENTRUM CAPITAL (up 10.0%). The top losers are CHOLAMANDALAM FINANCIAL HOLDINGS and GODFREY PHILLIPS .
Jun 21, 2021 SGX NiftyTrends on SGX Nifty indicate a gap-down opening for Indian stock markets.
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