SGX Nifty indicates flat to negative opening for Indian markets; Global cues positive

10 Feb 2022 , 07:35 AM

SGX Nifty is at 17,518.80 levels, lower 36.75 points. (Updated at 7:35 AM)

The Nifty saw a superb rally with all indices in good form as the nifty ended with gains of nearly 200 points.

Bank Nifty also saw gains of over 580 points with Nifty midcap index 50 gaining 1.55%.

Auto, metals & PSU stocks lead the gainers as Maruti, Coal India & Hindalco led the gainers while profit booking was seen in ONGC, BPCL & TISCO.

For today expect some volatility ahead of the Reserve Bank policy which could see a rise in reverse repo rates.

US Market: US markets see the third day of a superb comeback as Dow Jones gains another 300 points while Nasdaq leads the gainers with nearly 2% gains of over 290 points.

Bond yields close lower @ 1.92% while the US$ index eases further to 95.49 with oil prices falling for another day.

Asian Market: Asian markets opened in the green with mild advances as the Japanese ‘Nikkei’ traded higher by 50 points. This as most Asian markets consolidate the new trend of higher rates & growth going alongside.

Taiwan & South Korean markets traded mixed as the growth outlook for select auto saw profit booking. Chinese stocks will be in focus as data for consumption sees a pre-Covid rise which bodes well for the local markets.