SGX Nifty indicates positive opening for Indian markets

29 Mar 2022 , 07:55 AM

SGX Nifty is at 17,433.50 levels, higher 157.15 points. (Updated at 7:55 AM)

Nifty saw a weak start get weaker till mid day before we saw a sharp recovery from levels of 17000 with the index closing up 69. This as Nifty recovered from down 150 to close higher by 69.

Bank Nifty was the main reason as fall in crude oil prompted short covering/buying in Bank Nifty which recovered from down 350 to close up 300 by the end of the day. ICICI, Axis & Bharti led the gainers while UPL, SBI Life & HDFC led the losers.

Mid cap index also saw profit booking with Nifty midcap 50 ending lower by 0.51% as expiry related pressure saw selling pressure.

US Market: US markets start the week on a solid footing as Nasdaq climbs over 1.31% to close at 2-month highs while Dow Jones recovers from down 250 to close higher by 95.

Oil prices crash over 9% as China lockdown & demand destruction see prices fall.Bond yield close near 2.45% on the 10-year paper as markets look forward to peace talks between Russia/Ukraine later today.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which was trading higher by 205 points in early trade. This as China shut down sees oil prices fall over 9% which could see select oil importers do well in Asian markets.

Taiwan & South Korean markets also expected to see a rebound as technology stocks do well globally.