SGX Nifty indicates a positive opening for Indian markets

For today, expect some more colour on rupee strength and metals act as a proxy to see pull back. Mid-caps also could see more interest as mutual fund flows see more accumulation.

Feb 11, 2020 02:02 IST India Infoline News Service

High angle view of two business executives working at the stock exchange
SGX Nifty is at 12,084, up  42 points.

For today, expect some more colour on rupee strength and metals act as a proxy to see pull back. Mid-caps also could see more interest as mutual fund flows see more accumulation.

Nifty saw the correction extend another day as select large-cap results from steel and auto majors met with disappointment and saw selling extend into the counters.

Asian markets: Asian indices opened in the green after seeing a weak start to the week yesterday. The slide in oil prices bodes well for Asian importers as currencies, bonds and financials see buying interest. The other positive would be the virus now seeing a peaking process with declines expected this week onwards.

US Markets: US indices see the rally as Dow Jones jumps over 170 points with financials leading the pullback as S&P 500 index hits fresh new all-time highs. Markets shrug off Coronavirus fears as results beat estimates with large-cap stocks leading the rally.

Oil falls to below US$50 as demand outlook sees further weakness even as OPEC contemplates cut in output.

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