SGX Nifty indicates negative opening for Indian markets

14 Feb 2022 , 07:38 AM

SGX Nifty is at 17,120.00 levels, lower 141.25 points. (Updated at 7:38 AM)

The Nifty saw a sell-off on Friday as weak global cues saw profit booking from both foreign & local funds which saw the fall get sharper as the day progressed.

Nifty closed lower by over 230 points after being down 300 in the intraday trade. Bank Nifty closed lower by over 490 points with large-cap banks like SBI, Kotak & ICICI leading the losers.

IOC, Indusind & Tata Steel led the gainers while the Nifty Midcap 50 index closed lower by over 2.27% indicating the poor breadth & the sell-off.

US Market: US markets see a big sell-off for another day as geopolitical tension with Ukraine/Russia adds to weakness in sentiment.

Dow Jones falls another 500 points 2nd day running while Nasdaq falls 394 points or 2.8%. Bond yields close near 1.93% while US$ hits 96 as oil climbs to 7-year highs.

Asian Market: Asian markets opened in the red with the Japanese ‘Nikkei’ reopening after a trading holiday on Friday & trading lower by nearly 600 points.

The other Asian markets were also weak with the exception of the Australian S&P index which traded well in the green on positive data.

Chinese stocks could see contrarian buying as data from manufacturing shows growth momentum returning.