SGX Nifty indicates negative opening for Indian markets

6 Apr 2022 , 07:35 AM

SGX Nifty is at 17,861.20 levels, lower 135.10 points. (Updated at 7:35 AM)

Nifty saw a day of profit booking after the big rally of the last 2 days as banks led the decline with Nifty closing lower by 90 points.

Bank Nifty was the main culprit as HDFC Bank led the losers with the index closing lower by 560 points. Mid caps bucked the trend with the Nifty midcap 150 index closing higher by 1.48%.

US Market: US markets see profit booking as Dow Jones falls over 280 points while Nasdaq falls over 320 points after seeing a superb run last week.

Oil prices see profit booking at higher levels to close lower, while Bond yields close near new highs @ 2.60%.

Asian Market: Asian indices opened in the red led by weak US cues as profit booking was witnessed in most Asian indices. The Japanese ‘Nikkei’ led the losers down over over 380 points in early trade.

South Korean & Taiwan markets also followed suit with the technology stocks leading the downturn. Chinese stocks will see action as they handle the Covid situation with extreme caution while Hong Kong sees the reopen trade play out well.