How does SGX Nifty impact the Indian stock market?

The first thing that many active stock market traders look at when they get up in the morning is the SGX Nifty. Business news channels keep talking about SGX Nifty even before the Indian markets have opened. But what is SGX Nifty and how does it impact the Indian stock markets? Read on to find out. What is Nifty? Nifty is a basket of stocks comprising the Top 50 stocks listed in India on the National Stock Exchange (NSE). By looking at it, one can easily gauge whether the market is up or down. The individual stocks may go in different directions, but the Nifty gives an indication of the overall market - whether it is up or down and by how much. An index is not like a stock wherein you get physical delivery of shares. An index is only a benchmark to assess the direction of the mark...