SGX Nifty indicates positive opening for Indian markets

For today expect another attempt to cross 15800 as retail flows give confidence to the mid-cap rally.

Jun 11, 2021 07:06 IST India Infoline News Service

Stock Market Trader, Stock Trader, Trading
SGX Nifty is at 15,789.80 levels, higher 36.65 points. (Updated at 7:52 AM)

The Nifty had a superb pullback session as it wiped out Wednesday losses with a smart rally of over 100 points.

Banks & financial services led the gains with the Bajaj twins leading the gainers along with SBI & Indusind bank.

Mid-caps also followed the gains as breadth was positive with few lowers like auto & cement.

For today expect another attempt to cross 15800 as retail flows give confidence to the mid-cap rally.


US Market: US markets closed mixed with Dow Jones giving up nearly 300 points rally to close flat while Nasdaq closes higher by 100 points.

Inflation rises to the highest level since 2008 hitting 5% which sees bond yields hit 1.63%.

Markets look forward to higher bond yields but ignore the short term as risk-taking emerges at new highs.

Asian Market: Asian markets were trading in the green led by the South Korean & Taiwan markets as technology stocks lead the gainers.

The Japanese Nikkei also gained nearly 100 points in early trade as the market's reaction to rising inflation was muted with risk-taking inequities emerging.

Chinese stocks will be in action as markets await reaction to rising yields which could see a ripple effect globally.  


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