SGX Nifty indicates flat opening for Indian markets; RBI policy in focus

8 Apr 2022 , 07:16 AM

SGX Nifty is at 17,731.80 levels, lower 8 points. (Updated at 7:16 AM)

The Nifty saw the 3rd day of fall as the index was weighed down again by the HDFC twins which were the top losers along with Adani Ports and ONGC.

Banks saw buying interest ahead of the RBI policy tomorrow with Axis & ICICI leading the gainers with Divi’s lab also joining the leaders. Midcaps also saw profit booking with most indices closing lower by 0.5-1.2%.

US Markets: US markets recover from intraday lows to close in the green with Dow Jones closing up 87 after being down 300. Nasdaq closes up 10 after being down 200. This is as both indices break the losing trend of the last 4 days. Oil prices continue to see a decline with WTI crude trading below US$95.5, while bond yields rise to 2.64% as fear of the Federal Reserve raising 50 basis points now becomes almost certain.

Asian Markets: Asian indices opened in the green with pessimism as we enter the last day of the week which has seen profit booking across the globe in equities. The Japanese ‘Nikkei’ after a rather hard landing yesterday was trading up 100 in early trade followed by the South Korean ‘Kospi’ which also traded mildly in the positive.