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SGX Nifty indicates positive opening for Indian markets

Asian markets opened in mixed with the Japanese 'Nikkei' trading lower by 90 points after seeing a weak opening while other Asian indices trade flat to mildly negative.

November 29, 2021 7:50 IST | India Infoline News Service
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SGX Nifty is at 17,151.80 levels, higher 259.50 points. (Updated at 7:50 AM).

The Nifty saw its biggest selloff in over 1-year as the index fell 500 points with Bank Nifty falling 1300 points.

This as fear was the key with global indices & US futures trading sharply lower.

The 1st day of the new derivative series saw huge shorting as the indices buckled under selling pressure.

Banks, metals, and re-opening themes saw maximum damage with FMCG & Pharma seeing defensive buying.


US Market: US markets on Friday see huge selloff on 'Thanksgiving' holiday-shortened session with Dow Jones falling over 900 points while Nasdaq down 350 points.

Crude oil falls over 13% for the sharpest fall in over 3-years with bond yields also joining the selloff as yields fall from 1.63 to 1.47%.

New South African covid variant causes havoc in global markets even as health authorities suggest only mild fever to be the after effect.

Asian Market: Asian markets opened in mixed with the Japanese 'Nikkei' trading lower by 90 points after seeing a weak opening while other Asian indices trade flat to mildly negative.

The Taiwan market which has been an outperformer saw more weakness as collateral selling by foreign investors saw outflows. Chinese stocks may be good contrarian bets as macro indicators point to recovery.

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