SGX Nifty indicates negative opening for Indian markets

21 Jan 2022 , 07:45 AM

SGX Nifty is at 17,682.00 levels, lower 133.75 points. (Updated at 7:45 AM)

The Nifty saw a weak close for another day as very strong ETF outflows from foreign investors saw the index fall another 170 points which make the 3 days fall to over 650 points.

Bajaj Twins, Infosys, and TCS were the main losers as strong selling pressure in blue chips saw the index hit levels below 17600 briefly.

Bank Nifty also saw weakness with the index closing lower by over 200 points. Mid-caps bucked the trend & closed marginally in the green with retail interest seeing value buying.

US Market: US markets see no let-up with Dow Jones falling another 300 points after being up over 400 points in intraday trade.

Nasdaq sees 488 points intraday swings before closing lower by over 180 points or 12% from recent highs. Bond yields fall to 1.77% with crude prices falling over 3% from recent highs.

Asian Market: Asian markets opened weak with the Japanese ‘Nikkei’ trading lower by over 500 points in early trade giving up all gains from yesterday’s big rally.

South Korean and Taiwan markets also succumbed to ETF outflows as markets adjust to higher rates in the coming months with the Federal Reserve meeting next month signaling the same.

Chinese stocks could see outperforming as they have underperformed in the last leg of the rally.