SGX Nifty indicates negative opening for Indian markets

11 Apr 2022 , 07:44 AM

SGX Nifty is at 17,788.20 levels, lower 107 points. (Updated at 7:57 AM)

The Nifty saw a superb comeback after 3 days of decline as the Reserve Bank Governor left rates unchanged which saw buying/short covering drive stock prices higher. FMCG, pharma and auto stocks lead the rebound with IT being the only losing sector in the index.

Midcaps also saw huge participation with the Nifty Next 50 gaining over 1.55%.

US indices: US markets see mixed close on Friday as Dow Jones closes higher by 140 points while Nasdaq sees weakness for another day marking the worst week in 4 as higher yields see further profit booking in technology stocks.US bond yields close near 2-year highs @2.70%, while oil prices trade in double digits below US$100.

Asian indices: Asian markets opened mixed with the Japanese ‘Nikkei trading flat even as most other Asian markets trade in the green marginally. This is as Covid restrictions increase in China as more regions see a rise in outbreaks. This could further fuel inflationary trends globally as supply chain disruptions rise.