SGX Nifty indicates positive opening for Indian markets

11 Jan 2022 , 07:54 AM

SGX Nifty is at 17,991.50 levels, higher 34.25 points. (Updated at 7:54 AM)

The Nifty saw a smart rally to close above the psychological 18,000 level after 17th November as strong retail participation drove stocks higher.

The index rallied almost 190 points while Bank Nifty which has been the star of this rally was up over 600 points. Mid & small-cap stocks saw huge interest as the indices closed higher between 1.25-1.55%.

For today expect some consolidation around these levels with stocks specific movements of the day.

US Market: US stocks see huge intraday volatility with Nasdaq climbing back to close in the green after being down over 2.7%.

The rise in bond yields to pre-Covid levels at 1.82% sees selloff on equities with Dow Jones falling over 590 points before recovering to close lower by 160 points.

Bond yields closed at 1.75% after seeing profit booking while the US$ index closed near 95.90.

Asian Market: Asian markets opened lower with the Japanese ‘Nikkei’ trading lower by over 350 points as it was closed for a holiday yesterday.

Taiwan stocks also saw profit booking after hitting a record all-time high while the South Korean index also slipped in early trade.

Chinese stocks will see higher volatility as markets chase value overgrowth with the Government crackdown on reality hurting sentiment.