SGX Nifty indicates negative opening for Indian markets

14 Jan 2022 , 07:50 AM

SGX Nifty is at 18,236.50 levels, lower 90.25 points. (Updated at 7:50 AM)

The Nifty saw another close in the red even as banks saw profit booking. The rally was purely led by metals as US$ hitting 4-month lows saw Tata Steel.

JSW Steel & Sail lead the gainers with Sun Pharma & Coal India giving company. Wipro, HDFC Bank, and IndusInd Bank were the main losers as money saw sectoral rotation out of banks, IT, and into metals.

Mid-caps also saw gains for another day with the Nifty Midcap 100 index closing up over 0.65%.

US Market: US stocks see another day of weakness as Nasdaq sees a big sell-off falling over 2.5% which drags most indices into the red.

Dow Jones closes lower by 176 after being up over 224 in the intraday trade. Bond yields close near 1.72% while the US$ index weakens further to 94.80. Nasdaq to see fifth straight weekly losses as money exists technology stocks on rising yields.

Asian Market: Asian markets opened in the red led by the Japanese ‘Nikkei’ which traded lower by over 450 points in early trade. This is as weekend blues see across the board profit booking in Asian indices with Taiwan and South Korean bourses also seeing selling pressure.

Chinese stocks listed in Hong Kong have been seen buying as most investors feel Chinese large corporate earnings could see good returns in the near term.