SGX Nifty indicates positive opening for Indian markets

10 Mar 2022 , 07:44 AM

SGX Nifty is at 16,639.80 levels, higher 40.50 points. (Updated at 7:44 AM)

The Nifty saw another day of superb gains as the oversold index saw a rally of 330 points with the laggard Bank Nifty also seeing short covering.

Asian Paints, Reliance & Bajaj twins led the winners while metals led by Hindalco saw profit booking.

Mid-caps also saw strong buying as value buying saw the Nifty midcap index jump over 2.25%.

US Market: US markets see a sweet rally as oversold markets bounce with crude falling over 8%.

Dow Jones gains over 650 points while Nasdaq closes higher by 400 points.

Oil prices see sharp sell-off as Russia/Ukraine see calmness in rhetoric & look for solutions. German Dax index jumps over 8%, its largest rally in over 5 years.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which was up over 800 points as global cues see a strong pullback in oversold Asian markets.

South Korean ‘Kospi’ index was also up over 2.5% as metals see strong demand along with auto stocks seeing sharp rally.

Chinese stocks will see good price action as commodities rally should see strong demand on Russian concerns,