SGX Nifty indicates flat to negative opening for Indian markets

7 Feb 2022 , 07:45 AM

SGX Nifty is at 17,454.00 levels, lower 34.50 points. (Updated at 7:45 AM)

The Nifty saw a weak session as profit-booking by foreign investors saw the index swing over 155 before closing down 43 points.

Bank Nifty was the main culprit as large-cap private banks & PSU large-cap SBI saw profit booking before its results on Saturday.

Metals, IT & FMCG led the gainers while auto, financial services & banks saw profit booking.

Mid-cap indices also finished lower as the 10-year bond surged to 6.80% which saw profit booking in financials.

US Market: US markets see sharp volatility as Friday jobs data beat estimates which sees bond yields spike to hit 1.90%.

Dow Jones swings over 534 points before closing lower by 20, while Nasdaq closes higher by over 220 points. Oil rises to the highest level since 2014 while US$ closes unchanged @ 95.49.

Asian Market: Asian markets opened mixed with the Japanese ‘Nikkei’ trading lower by 200 points while the other Asian markets reopened after the Lunar holidays seeing buying interest.

Taiwan index was trading up over 185 points in early trade as markets reacted to US cues where the indices saw a sharp rally last week. Semiconductor shortage is seeing signs of stability which could see Taiwan & South Korean markets react positively to the same.