SGX Nifty indicates negative opening for Indian markets

4 Mar 2022 , 07:54 AM

SGX Nifty is at 16,272.20 levels, lower 135.75 points. (Updated at 7:54 AM)

The Nifty saw another day of weak trade as the index fell over 200 points in intraday trade before cloning lower by 100 points.

Bank Nifty again underperformed losing over 400 points as Axis, ICICI & SBI saw losses.

Metals stole the show along with IT as markets see commodities outperform in the near term due to geopolitical concerns.

Nifty small cap index closed in the green seeing interest in retail flows as value beats growth.

US Market: US markets see weakness as profit booking & geopolitical tensions see Dow Jones close lower by 90 points while Nasdaq loses over 1.5%.

Oil prices see cool off as Iran exports to start soon which could see near term shortages get arrested. US bond yields close lower near 1.77% as Federal Reserve to raise rates by 25 basis points in March policy meet.

Asian Market: Asian markets opened in the red led by the Japanese ‘Nikkei’ which was trading lower by over 550 points in early trade as fresh geopolitical concerns in Ukraine saw weakness persist in Asian markets.

Taiwan & South Korean markets were also trading lower as sentiment remains weak before the weekend. Chinese stocks could outperform as commodities see producer Companies do well.