SGX Nifty indicates positive opening for Indian markets

28 Mar 2022 , 07:48 AM

SGX Nifty is at 17,267.20 levels, higher 50.70 points. (Updated at 7:48 AM)

Nifty saw a smart start get sold into with weekend blues prompting profit booking as foreign investors sold stock with local funds supporting the markets.

IT, pharma & auto stocks led the losers while in reality, PSU banks & media saw gains even as the index closed lower by 70 points.

Nifty next 50 index managed to close in the green indicating the broader market outperform while pressure on large caps as we head into the expiry of March derivative contacts.

US markets see the end to another good week as Dow Jones climbs another 150 gain on Friday. Nasdaq see profit booking but recovers from lows to close down 22.

Oil prices fall sharply as China announces big lockdown in Shanghai, while bond yields also fall to 2.45%.

Asian markets opened in the red seeing profit booking as the Japanese ‘Nikkei’ was trading down 200 after seeing its best week last week in over 2 months.

The shutdown in China is seeing most commodities under pressure with crude prices slipping nearly 4%. The markets will keenly await the outcome of the Russia/Ukraine talks proposed today in Turkey which could break the stalemate over the geopolitical situation.