SGX Nifty indicates flat to positive opening for Indian markets

18 Jan 2022 , 07:50 AM

SGX Nifty is at 18,327.80 levels, higher 9.75 points. (Updated at 7:50 AM)

The Nifty saw it close above 18,300 for the 1st time in over 3-months as retail flows from local funds hit record highs and TCS, Tata Motors hit a fresh new all-time high.

Hero MotoCorp, ONGC, and Grasim were the other contributors to the 50 points gains for the index while HCL Tech, HDFC Bank, and Axis Bank saw selling pressure.

Small-cap 100 index again outperformed the index gaining 0.60%.

US Market: US markets closed for holiday see futures trade flat with all eyes on bond yields as crude spikes on weather concerns.

Brent crude hits US$ 86 or 2-year highs as a return of demand coupled with colder weather see supply restrictions drive prices higher.

Asian Market: Asian markets opened in the green led by the Japanese “Nikkei’ which traded higher by over 170 points in early trade. Most other Asian markets traded flat even as Chinese stocks reacted to rate cuts by the Central Bank to spur business activity.

Taiwan and South Korean markets traded flat after the Taiwan markets hit new highs as demand for chip manufacturing hits record highs.