SGX Nifty indicates negative opening for Indian markets

12 Apr 2022 , 07:42 AM

SGX Nifty is at 17,568.20 levels, lower 38 points. (Updated at 7:42 AM)

The Nifty saw a weak Monday as global cues, higher yields in the US & locally saw the index fall over 100 points. This as IT sector saw profit booking ahead of TCS results with the index down over 1.51%. Banks saw buying in the 1st half of the session but succumbed to profit booking in the last hour with PSU banks leading the losers. Midcap index closed in the green indicating the retail participation in smallcap & midcap stocks.

US markets: US markets see weakness prolong on Monday as rising yields see profit booking across the board with Dow Jones falling 400 points, while Nasdaq falls nearly 300 points.

Bond yields hit 2.82% as markets discount Federal Reserve action with inflation expected to rise given the supply chain disruptions.

Oil prices fall to 2-month lows below US$ index 95.

Asian markets: Asian indices opened weak against the backdrop of US stocks selloff with the Japanese ‘Nikkei’ trading lower by over 300 points. South Korea & Taiwan markets reacted yesterday to the technology weakness & could see some stability today.

Central Bank of China on the other hand to induct more money into the bond markets to increase liquidity which belies the US Federal Reserve move for Asian markets & which could see Chinese stocks react positively.