SGX Nifty indicates flat opening for Indian markets

26 Apr 2022 , 08:14 AM

SGX Nifty is at 17,152.20 levels, higher 24 points. (Updated at 8:15 AM)

The Nifty saw a weak start to the week as global cues dominated with foreign investors selling aggressively as technology stocks led the markets lower. However superb results from ICICI bank saw the Bank Nifty end the day in the green as banks outperform on a day when the Nifty closed lower by over 200 points.

Midcaps also saw their worst day in April as collateral selling saw stocks selloff.

US markets: US markets see a big intraday recovery to close at the highs for the day with Dow Jones closing up 238 points after being down over 400 in early trade. Nasdaq closes higher by over 165 points or 1.3%. Oil remains lower down over 4% with China lockdown seeing demand lowest in over 6 months. Bond yields also fall to close @ 2.80%.

Asian markets: Asian indices opened mixed as the volatility globally & uncertainty till the Federal Reserve meet on 4th May will see both sided moves in markets.

The Japanese “Nikkei’ was trading higher by over 160 points in early trade with the South Korean & Taiwan markets also joining the rally.

Chinese stocks have been the worst performers & could see some contrarian buying as technology stocks offer deep value.