SGX Nifty indicates positive opening for Indian markets

4 Jan 2022 , 07:40 AM

SGX Nifty is at 17,687.00 levels, higher 4.50 points. (Updated at 7:40 AM)

The Nifty saw a smart close for 2nd day running gaining over 270 points to record its best day in nearly a month.

There was all-round buying by both foreign & local funds coupled with retail participation in mid-caps which saw the high beta Bank Nifty lead the gainers. Private banks, financial services & metals were the big gainers while pharma & IT stocks saw profit booking.

US Market: US markets start the New Year with a bang as Dow Jones closes at all-time highs with Nasdaq closing higher by 187 points while Russell 2000 index also jumps over 1.08%.

Bond yields rise to close at 4-month highs near 1.62% as risk-on trade sees the higher cost of funds.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which reopened for trading after 3 days of holiday & was trading higher by over 400 points in early trade.

The Taiwan stock index continues to be Asia’s best as it hits fresh new all-time highs with hardware manufacturing in the best space coupled with a very strong demand for chips.

Chinese stocks will also be in action as data suggests strong demand for commodities as demand returns to pre Covid levels.