SGX Nifty indicates positive opening for Indian markets

Asian markets opened in the green after seeing profit booking across the board yesterday.

Oct 19, 2021 07:10 IST India Infoline News Service

Analysis Finance Market
SGX Nifty is at 18,569.80 levels, higher 81.90 points. (Updated at 7:52 AM).

The Nifty continues to hit new highs as retail participation drives indices to new highs with the index gaining over 500 points in 3 days.

Bank Nifty also hit fresh new highs as it saw PSU banks lead from the front with SBI hitting the magical 500.

Metals led the gainers along with IT as industrials took a breather with the Sensex hitting fresh new highs at 61,800.

Local mutual funds were sellers for 3rd day running while foreign flows & retail supported the buying.

US Market: US markets close mixed as rising yields which hit 1.62% in intraday trade see profit booking in stocks.

However, in the last hour, recovery sees yields close unchanged near 1.59% with Nasdaq seeing short covering to close higher by 120 points while Dow Jones closes lower by 36 points. Oil prices see new 5 year highs as Brent crude hits US$ index 86.

Asian Market: Asian markets opened in the green after seeing profit booking across the board yesterday as the Japanese 'Nikkei' was higher by 120 points in early trade. This as commodities see fresh new 10 year highs with aluminum, copper & zinc seeing demand outstrip supply. 

Chinese GDP growth at 4.9% was lower than most estimates which shows the slowdown in industrial activity.

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