SGX Nifty indicates positive opening for Indian markets

For today expect more consolidation as mid-caps continue to outperform.

Sep 16, 2021 07:09 IST India Infoline News Service

SGX Nifty is at 17,521.20 levels, higher 134.25 points. (Updated at 7:55 AM)

The Nifty closed with gains for another day as foreign flows see huge left out feelings with PSU buying lifting the index to new all-time highs.

Banks lead the gains as telecom relief package from the Government gives moratorium for interest payments.

NTPC, Coal India, Bharti, and ONGC lead the gains while FMCG & cement stocks see selling pressure.

For today expect more consolidation as midcaps continue to outperform.

US Market: US markets ended with gains as energy stocks lead the gainers with oil prices at 3-month highs.

Bond yields trade near 1.29% even as US$ sees initial weakness being bought into the US sees high. Higher tax proposal gets go-ahead from White House which could see higher volatility in the near future.

Asian Market: Asian markets opened muted with the Japanese 'Nikkei' trading almost flat as markets consolidated after a superb last fortnight.

Higher ETF flows have been the elixir for Asian markets with money seeing a move from developed to emerging markets.

Chinese stocks have lagged behind the Asian peers as Government policy on the internet/fintech sees foreign funds turn sellers.

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