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FAQ: What is SGX NIFTY? How it is related to indian stock market?
In the morning stock market TV news we often listen about "SGX NIFTY". If it trades up before market opening, Indian stock market trades up and vice versa. Please explain what this is and how it is related to our stock markets?
SGX NIFTY stands for Singapore Exchange Nifty or in short form Singapore Nifty. The Indian Stock market i.e. Sensex and Nifty-50 is indirectly related to the SGX Nifty along with the other Indices around the world. Another point is that both India as well as Singapore is in same continent, i.e, Asia which co-relates the whole thing. It can also be seen from "The Golden Monday" of Indian Stock Market in 2009 just after the election results when both Sensex and Nifty closed on upper circuit and freezed. On the same day, in the morning, SGX Nifty was up by more that 600 points. Not only this. if some steep rise/fall happens in any of the Indices around the world it affects other exchanges.
In today's globalized world, where countries can trade with other countries around the globe, it is very much necessary to look on to other markets of the world as the first effect of economic performance comes on the stock market.
SGX Nifty is nothing but Indian Nifty Traded in Singapore Stock Exchange. It will be moving with respect to Indian Nifty. SGX Nifty is opened at 8.00 AM on all working days and mostly it will be initial direction to the Indian Market. It gives an excellent idea on where our Nifty index can open for the day.
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