SGX Nifty indicates a negative opening for Indian markets

Asian markets opened muted with most trading marginally in the red after the US stocks saw high volatility in yesterday's session.

Sep 17, 2020 07:09 IST India Infoline News Service

Analysis Finance Market
SGX Nifty is at 11,523.20 levels, down 88.40 points. (Updated at 7:34 AM)

The Nifty saw the index break above 11550 after 2 weeks of consolidation & close at 11600 as large cap buying in select IT, auto, private banks & energy stocks saw the index head higher.

Mid caps continue to see more gains as the index hits 52 week highs leading the list of gaining indices.

Auto, banks & pharma stocks were the big gainers as breadth of the market improved substantially.


US Market: US stocks see another day of volatile trade as Dow Jones closes with minor gains after seeing intraday highs of over 395 points.

Nasdaq closes lower by 1.3% as technology stocks see sell on rise after Federal Reserve statements.

Federal Reserve bolsters outlook for equities by committing zero rates till 2023 as yields close @ 0.69%. Oil sees smart pullback as hurricane season sees risk of higher output cuts.

Asian Market: Asian markets opened muted with most trading marginally in the red after the US stocks saw high volatility in yesterday's session.

The undertone remains bullish as expected low cost of funds to continue to see higher risk asset allocations with equities being biggest gainers over next 3 years.

Chinese data will be key this week as weak US$ bodes well for Chinese stocks as collateral risk falls.

 

Related Story