SGX Nifty indicates flat to positive opening for Indian markets

7 Jan 2022 , 07:45 AM

SGX Nifty is at 17,835.50 levels, higher 15.00 points. (Updated at 7:45 AM)

The Nifty saw a smart pullback from the lows as higher volatility hurt markets after a superb 4-day non-stop rally of over 900 points on the index.

Bank Nifty also recovered from the lows to close lower by 200 points before being down over 630 points in early trade.

Mid-caps saw more traction as frontline technology stocks saw selling continue.

US Market: US stocks see high volatility as higher yields and Federal Reserve minutes sees stocks lose ground in early trade for 2nd day running.

Bond yields spiked to 1.73% which sees technology stocks see profit booking, however, expect both-sided moves as Nasdaq had git oversold yesterday.

US index also sees buying to hit 96.33, which is a 1-month high.

Asian Market: Asian markets opened mixed as the Japanese ‘Nikkei’ had fallen over 800 points yesterday with sentiment turning weak after the Federal Reserve indicated higher rates by end-March.

The Hang Seng reacted to lockdown concerns as ‘Omicron’ cases worldwide rose rapidly.