SGX Nifty indicates negative opening for Indian markets

3 Feb 2022 , 07:40 AM

SGX Nifty is at 17,783.80 levels, lower 70.45 points. (Updated at 7:40 AM)

The Nifty saw a strong close for Wednesday with banks leading the gainers as Bank Nifty surged over 825 points with Indusind, Kotak & Bajaj twins leading the gainers, while profit booking was seen in Tech M, Ultratech & Britannia.

Mid-caps saw another strong show with the Nifty Smallcap 100 index rising 1.44%. Foreign selling was almost absent with short covering in futures as markets traded near 17800.

US Market: US markets see gains for another day with Dow Jones closing higher by 220 points while Nasdaq rises 70 points. US$ falls further to 96 while bond yields ease to 1.76%.

After-hours technology stocks see weakness as Meta Platform earnings & guidance miss estimates which sees Nasdaq futures sharply lower.

Asian Market: Asian markets opened in the red led by the Japanese ‘Nikkei’ which was down over 250 points in early trade as weak earnings from the US saw profit booking in most Asian markets.

South Korean ‘Kospi’ bucked the trend trading higher by over 2% as it reopened after 3 days of holiday. Most other markets will reopen on Monday after the Lunar holidays with a reaction to overseas cues as the US markets see a sharp comeback.