SGX Nifty indicates muted opening for Indian markets

11 Mar 2022 , 07:45 AM

SGX Nifty is at 16,524.00 levels, higher 0.50 points. (Updated at 7:45 AM)

Nifty saw a superb short-covering rally as markets opened gap-up to trade higher by over 410 points before last hour profit booking got the close lower up 250 points.

Bank Nifty was the big gainer up over 1550 points before closing higher by 660 points. Hindustan Unilever, Tata Steel & SBI led the gainers while Coal India, Tech M & Dr. Reddy saw profit-booking. 

US Market: US markets recover from lows to close down 115 points,while Nasdaq recovers from loss of over 2% to close down 125 points or 0.9%.

Bond yields scale new 2-year highs hitting 2.23% before closing @1.99%. Oil prices consolidate after the sharp drop over night.

Asian Market: Asian markets saw quiet trade before the weekend with the Japanese Nikkei trading lower by 150 points after the stellar rally yesterday.

Most other markets would see range-bound trade as talks between Russia & Ukraine were inconclusive.