SGX Nifty indicates flat to negative opening for Indian markets

13 Jan 2022 , 07:40 AM

SGX Nifty is at 18,335.80 levels, lower 28.50 points. (Updated at 7:40 AM)

The Nifty saw another close in the green as the index closed over 18,200 with the Bank Nifty nearing 39,000.

This as mid-caps also saw new highs with the Mid cap 50 index closing higher by over 1.25%.

Bharti, Reliance, M&M & Hindalco led the gainers while Titan, TCS & Shree cement saw profit booking.

Mixed results from IT majors will see reaction both on the up and downside as Infosys beats estimates while Wipro misses.

US Market: US stocks see huge intraday swings with Dow Jones being from up over 200 to down 85 before closing up 30.

Nasdaq also sees volatility being up 165 before closing up 34. Crude prices spike to hit 52-week highs as lower inventories see a rise in prices.

US inflation hits 39-year highs as supply chain disruption coupled with higher crude add to higher cost of goods.

Bond yields remain near 1.75% while the US$ index falls sharply to close below 95 at 94.98 a 4-month low.

Asian Market: Asian markets opened in the red led by the Japanese ‘Nikkei’ which saw profit booking after a large move yesterday and was trading lower by over 190 points in early trade.

Most Asian indices had a superb day yesterday and could see consolidation today even as emerging markets see huge gains led by the Brazilian ‘Bovespa” as weaker US$ sees money flow into emerging markets.