SGX Nifty indicates flat opening for Indian markets

4 Apr 2022 , 07:38 AM

SGX Nifty is at 17,711.80 levels, lower 26.15 points. (Updated at 7:38 AM)

Nifty saw a superb Friday as the index closed near 17700 with allround buying as Sensex reclaimed 59200 levels last seen in early February. Nifty closed higher by 200 points while Bank Nifty rose 775. Mid caps stole the show with Nifty small cap 100 closing higher by 1.70%. For today expect foreign buying to continue which will see all declines being bought as markets see optimism before quarterly results.

US Market: US markets end week with gains as Dow Jones moves higher by 140 points while Nasdaq closes higher by 40 points.

The undertone remains bullish with 50 basis points rate hike in May being factored in prices. Oil prices see further decline as Iran supplies come on stream along with peace talks between Saudi Arabia & Yemen.

Asian Market: Asian indices opened flat with the Japanese ‘Nikkei’ trading higher by 50 points while other indices traded mildly in the green. South Korean stocks led the gainers as demand for semiconductors & auto stocks saw renewed bouts of buying.

Chinese stocks will be in action as the authorities see fast action on containment of Covid cases which should see normalcy return faster than expected.