SGX Nifty indicates flat to positive opening for Indian markets

10 Jan 2022 , 07:55 AM

SGX Nifty is at 17,926.50 levels, higher 20.75 points. (Updated at 7:55 AM)

The Nifty on Friday saw a smart rally with the index closing in the green after a drubbing on Thursday on weak global cues.

The pullback was led by banks, FMCG, and metals while profit booking was seen in pharma and media stocks.

Mid-cap indices saw outperforming even as the broader market saw buying interest with gainers beating losers.

For today expect some consolidation on the index while stock-specific moves in technology could outperform.

US Market: US stocks on Friday see higher than normal volatility as indices end the week with losses as markets adjust to a new norm of a higher cost of funds.

Nasdaq close worst week in over 4-months falling 8 out of 9 sessions while the star of the week was the Russell 200 index as it outperformed the benchmarks. Bond yields close near 3-month highs at 1.75% while the US$ index ended at 2-month lows near 95.78.

Asian Market: Asian markets opened mixed with the Taiwan index leading the gainers while other markets traded flat to mildly in the red.

This is as Chinese stocks struggle to match market expectations even as money from ETF flows sees huge buying in mid-caps. Hardware stocks in Taiwan hit new highs as global technology-related stocks doing extremely well