SGX Nifty indicates negative opening for Indian markets

15 Mar 2022 , 07:50 AM

SGX Nifty is at 16,843.20 levels, lower 65.75 points. (Updated at 7:50 AM)

The Nifty saw another superb rally as no fuel hike over the weekend and sharp correction in global crude prices bode well for oversold banks which saw the Bank Nifty climb over 765 points or 2.2% as the Nifty climbed 240 points.

SBI, HDFC Bank and ICICI Bank led the gainers as market breadth saw a positive break out with midcaps also joining in the rally. IOC, ONGC, Tata Motors and Hindustan Unilever saw profit booking while banks & infra stocks lead the winners.

US Market: US markets falter to deceive as Dow Jones closes flat after rallying over 400 points in intraday trade.

Nasdaq continues to see a losing streak closing lower by 2% as technology stocks bear the brunt of over ownership and rising rates.

Oil sees the sharpest fall in over 3 months as WTI crude breaks US$ 99 before closing above 100.

Asian Market: Asian markets see lacklustre trade as the Japanese ‘Nikkei’ traded mildly in the green after rallying yesterday, while the market participants await the Federal Reserve decision due on Wednesday.

The Hong Kong index has been the worst performer falling over 35% from its 52-week high and yesterday fell over 4% as the US ban on Chinese internet-related stocks in the US saw further bloodletting in the Chinese listed stocks.