SGX Nifty indicates negative opening for Indian markets

27 Jan 2022 , 07:48 AM

SGX Nifty is at 16,884.20 levels, lower 301.05 points. (Updated at 7:48 AM)

The Nifty saw a smart close before the ‘Republic day’ holiday as local funds buying matched the big selling by foreign investors.

However, the results from Axis & ICICI bank buoyed sentiment with the Bank Nifty closing higher by over 750 points or 1300 points from the lows for the day.

Mid caps also saw buying interest as the Nifty midcap 50 index closed higher by 1.35%.

With expiry due, today for the volatile January series expect higher than normal volatility as we head into the Union Budget on 1st February.

US Market: US markets see another volatile session as Federal Reserve sounds ‘hawkish’ on rates in March & sees inflation as the main objective which sees Dow Jones close lower by 120 points after being up over 500 in intraday trade.

Bond yields spike to 1.83% while oil prices also see gains even as the US$ index crosses 96.20.

Asian market: Asian markets opened weak with the Japanese ‘Nikkei’ trading lower by 500 points as global markets react to the Federal Reserve outlook.

South Korean ‘Kospi’ also was weak for another day as ETF outflows from Asia saw most markets trade in the red. Chinese stocks have seen contrarian buying which could continue as the economy recovers.