SGX Nifty indicates flat to positive opening for Indian markets

18 Feb 2022 , 07:35 AM

SGX Nifty is at 17,250.20 levels, higher 29.45 points. (Updated at 7:35 AM)

The Nifty saw another day of high volatility as weak global cues & news on the Russian front saw traders get whipsawed as markets swung over 220 points before closing lower by 17 points.

Bank Nifty was the main culprit as ICICI, Axis & IndusInd lead the losers, while HDFC, Tata Consumer & ONGC lead the gainers. Mid caps also saw negative divergence with most closing in the red as the breadth of the markets was negative. 

US Market: US markets see the worst day in 2022 as Dow Jones falls over 600 points while Nasdaq falls 400 points or 2.88%. Bond yields fall to 1.95% while oil sees a further fall of over 3%.

This as US President keeps high rhetoric of imminent Russian attack on Ukraine denied by Russian authorities.

Asian Market: Asian markets opened weak after the US sell-off with the Japanese ‘Nikkei’ trading lower by over 250 points even as markets geared up to price in geopolitical risk & rate hike by the Federal Reserve.

The prices of gold & silver saw a further rise as safe-haven buying saw precious metals do well. Chinese stocks will again be in the limelight as expected data on exports could see metals rally as environment issues sees curtailment in local output.