SGX Nifty indicates flat to positive opening for Indian markets

28 Jan 2022 , 07:52 AM

SGX Nifty is at 17,120.50 levels, higher 16.50 points. (Updated at 7:52 AM)

The Nifty saw another day of weakness as the expiry of derivative contracts coupled with weak global cues saw the index fall over 400 points before the last hour recovery saw the index close lower by 165 points.

Bank Nifty outperformed as it closed in the green-up 275 & after an intraday dip of over 1000 points. Mid caps saw action as markets geared up for Budget 2022 with positions being made in select sectors & stocks. 

US Market: US markets see another volatile session as stocks gyrate with Dow Jones seeing over 600 points intraday swings.

Nasdaq slips as it closes lower by over 180 after being up over 240 in intraday. Bond yields close lower @ 1.80% while US$ inches past to 52-week highs @ US97.20.

Emerging markets see huge rebounds led by the Brazilian ‘Bovespa’ up over 6% in the last 3 days.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which traded higher by over 400 points in early trade after seeing a huge 800 point correction yesterday.

Most other Asian markets will be closed for the Lunar holidays & reopen after the 7th of February. South Korean ‘Kospi’ also has seen a huge sell-off in sync with the Nasdaq & looks set for a strong bounce as metals see bounce with Japanese steel firms raising prices.