SGX Nifty indicates positive opening for Indian markets

21 Mar 2022 , 07:52 AM

SGX Nifty is at 17,389.50 levels, higher 64.45 points. (Updated at 7:52 AM)

Nifty saw its best week in over 1 year with the index closing just short of 17300 as it gained over 300 points.

Bank Nifty has also been the star as it gained almost 4000 points from the lows of 10th March to hit 36600 in almost 9 days.

Foreign flows turned positive for a change with short covering aiding the rally.HDFC, Titan, Reliance led the gainers while Infy, HCL Tech & Cipla saw profit booking. 

US Market: US markets see best weekly rally since 2020 as indices see strong value buying coupled with Federal Reserve action now discounted.

Oil prices rally after strong decline while bond yields trade near 2.14%. Dow Jones gains over 270 points while Nasdaq climbs 279 points or 2.05%.

Asian Market: Most Asian markets saw positive sentiment rub off even as rhetoric between Ukraine/Russia sees some positive change for the better.

Chinese stocks have reacted to Government institutional buying as they had got into a bearish spiral, which saw some smart recovery. The Japanese market would be closed for the March equinox with futures trading higher.