SGX Nifty indicates positive opening for Indian markets

14 Mar 2022 , 07:50 AM

SGX Nifty is at 16,583.20 levels, higher 89.95 points. (Updated at 7:50 AM)

Nifty saw another positive close as local funds supported the markets with mid-caps also seeing positive traction.

Foreign selling continues to be a damper as global geopolitical uncertainty & higher inflation see stocks under pressure.

Metals, pharma & PSU banks were the gainers while auto, media & IT saw profit booking.

Nifty Midcap 50 index closed higher by 0.70% while the broader markets also saw traction on the upside.

US Market: US markets end the week with losses as Nasdaq & technology stocks see weakness.

Bond yields hit 3-year highs @ 2.03% even as the Federal Reserve meeting this week indicates a 25 basis points hike. US$ hits 6-month highs @ 99, while oil prices also see traction on the upside after a sharp fall on Thursday.

Asian Market: Asian markets saw a positive start as the Japanese ‘Nikkei’ was trading higher by over 300 points in early trade along with positive traction in the Australian markets which were up over 1.3%.

This is as oil prices see a decline of over 3% while geopolitical talks continue to see some positive rhetoric on breakthrough between Ukraine & Russia.

Taiwan & South Korean markets could trade in the red as technology stocks in the US lead to a global sell-off as over-ownership & higher rates expectations see selling pressure.