SGX Nifty indicates flat to positive opening for Indian markets

For today, expect some consolidation even as oversold stocks look set to bounce back after some heavy ETF selling which may continue for this week.

Apr 13, 2021 07:04 IST India Infoline News Service

Analysis Finance Market
SGX Nifty is at 14,361.80 levels, down 2.75 points. (Updated at 7:40 AM)

The Nifty saw a volatile session with the index posting its biggest fall in 2021 as stocks tumbled like ninepins.

Bank Nifty led the decline falling over 5% as large-cap & PSU banks led the indices lower.

IT & pharma stocks buckled the trend even as mid-caps had their biggest fall in over 4 months.

For today, expect some consolidation even as oversold stocks look set to bounce back after some heavy ETF selling which may continue for this week.


US Market: US stocks close with marginal losses even as S&P 500 index hits fresh new all-time highs.

Bond yields edge up slightly to 1.67% even as US$ sees further weakness.

Earnings from large banks to set the tone this week as markets see a consolidation after a superb run.

Asian Market: Asian markets opened in the green led by the Japanese Nikkei as after consolidation in most Asian markets stocks look set to gather momentum ahead of earnings season as US$ weakness sees flows heading back into Asian markets.

Corporate earnings from China will be watched as the manufacturing sector sets to outperform this quarter.

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