SGX Nifty indicates flat to positive opening for Indian markets

22 Mar 2022 , 07:50 AM

SGX Nifty is at 17,166.80 levels, lower 1.05 points. (Updated at 7:50 AM)

Nifty saw profit booking after hitting 2-month highs as markets cooled off after the best fortnightly rally in over 14 months.

Rise in crude saw financials under pressure as banks saw profit booking along with auto & cement stocks.

Energy stocks & Coal India led the gainers while midcaps again saw strong outperform.

Nifty smallcap index actually closed with gains of 0.23% while the broader market breadth was also positive.

US Market: US markets see profit booking on Monday after the best week in over 2 years as higher bond yields & spike in crude see Dow Jones fall 200 points.

Nasdaq falls 55 points. Crude oil prices rise almost 6% with bond yields hitting 3 year highs @ 2.30%.

Asian Market: Asian markets opened strongly in the green led by the Japanese ‘Nikkei’ which traded well over 400 points in early trade as investors focussed on reopening trade rather than short-term worries over geopolitics.

Hong Kong to reopen travel from 1st April which is the biggest source of earning for the economy & which should bode well for the region.