SGX Nifty indicates positive opening for Indian markets

8 Mar 2022 , 07:45 AM

SGX Nifty is at 15,769.80 levels, higher 86.75 points. (Updated at 7:46 AM)

The Nifty saw another day of pain as it fell over 380 points to close near 8-month lows.

This as unabated foreign selling hurts sentiment with across board sell-off in oil-related sectors.

Ongc, Gail & Hindalco were the gainers while banks led the fall with Indusind, Axis & Maruti leading the losers.

Mid-caps also saw near-term capitulation as a hike in rates after state elections saw yields rise.

US Market: US markets see further sell off as geopolitical tensions weigh on Corporates exposure to Russian banks & institutions as sanctions to hurt sentiment.

Bond yields rally to close near 1.73% as crude oil hits 10 year highs, before sharp profit booking. Dow Jones falls over 750 points while Nasdaq falls over 3.5%.

Asian Market: Asian markets opened in the red with the Japanese ‘Nikkei’ trading lower by 100 points after a huge sell-off on Monday as weak US cues see caution in early trade.

The rest of Asia was a ‘sea of red’ yesterday with a rise in crude hitting 10-year highs causing a massive bout of sell-off in oil-sensitive sectors/stocks. Chinese stocks also ended near 4 month lows as ETF flows were sellers across the board in Asian stocks.