SGX Nifty indicates a negative opening for Indian markets

For today, the money flow continues to chase value in mid caps as large caps see profit booking with ICICI Bank & Reliance shedding some weight.

Jan 15, 2020 02:01 IST India Infoline News Service

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SGX Nifty is at 12,362, down by 28 points.

Nifty hit fresh new all time highs for the 4th day running as FMCG, consumption, media & metals rallied while banks saw weakness creep in. The rise in inflation locally, which saw bond yields rise was detrimental to banks treasury income and saw both PSU and private banks fall.

For today, the money flow continues to chase value in mid caps as large caps see profit booking with ICICI Bank & Reliance shedding some weight.

US Markets: 
US stocks end with gains but off highs as profit booking emerges above 29000 for Dow Jones. Nasdaq closes in the red as technology stocks see profit booking ahead of results. Bond yields fall to 1.81% as oil corrects further with expectations of increase in US inventories. US/China to sign trade deal today as President Trump outlines road map for tariff withdrawals.  

Asian Markets: Asian indices were trading in the red as profit booking emerged after a superb 4 day rally in most Asian markets.The US/China trade deal signing with conditions could see some more money be taken off the table as savvy investors book profits.The big positive in most markets is that the broader markets have now started to see positive traction as the rally in equities gets broad based.

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