SGX Nifty indicates a positive opening for Indian markets

For today, expect some early weakness to be bought into with second half buying as markets look a tad oversold.

Dec 11, 2019 02:12 IST India Infoline News Service

SGX Nifty is at 11,912.50, up by 5.5 points.

Nifty closed with losses at one month lows as expectations of Government levying changes in GST taxes soured sentiment. The Government is seeing slowdown in GST collections and having to compensate the States it needs to rejig the tax slabs carefully in an already slowing economy. A strong Rupee could not deter profit booking as IT, banks, metals and mid cap stocks bore the brunt of a late sell-off, which dragged the Nifty lower. For today, expect some early weakness to be bought into with second half buying as markets look a tad oversold. 

US Market: US stocks close with minor losses as markets look forward to Federal Reserve meet tonight and expect President Trump to waive further tariffs on China due on 15th December as talks proceed smoothly. US$ sees weakness ahead of Federal Reserve meet while bond yields trade at 1.83%. Oil & gold remain flat as globally markets are looking forward to equities outperforming in 2020.

Asian Market: Asian indices opened flat as markets will await Federal Reserve outlook tonight with expected 'dovish' stance to benefit emerging markets as US$ set to decline. The other positive has been the resilience in earnings from most Asian companies which have battled the slowdown admirably. For today, expect some more color from China as manufacturing data due could see a surprise upside.


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