SGX Nifty indicates negative opening for Indian markets

18 Apr 2022 , 08:04 AM

SGX Nifty is at 17,243.80 levels, lower 262.25 points. (Updated at 8:04 AM)

For today weaker than expected margins saw Infosys ADR drop nearly 8% which could see IT stocks come under selling pressure.

The Nifty saw another weak session on Wednesday in a holiday shortened week as foreign selling saw pressure in large cap auto, bank and financial services stocks. FMCG and metals were the only gainers even as Nifty next 50 managed to close up 0.14%.

US markets: US markets see weakness on Friday as the consumer price index spurt again sees pressure on bond yields which rise to 2.75%. Nasdaq bears the brunt of profit booking closing lower by 290 points while Dow Jones after being up over 300 points closes lower by 130 points. Oil prices rise further as geopolitical risk in Ukraine sees escalation.

Asian markets: Asian indices opened in the red led by the Japanese ‘Nikkei’ which traded lower by over 400 points in early trade following the weak US cues. This as China sees Covid cases jump which again sees the partial reopening stall as the authorities implement strong measures. Sentiment will also be weighed down by the rise in yields as the Federal Reserve seems set to raise rates by 50 basis points in May.