SGX Nifty indicates positive opening for Indian markets

30 Mar 2022 , 07:55 AM

SGX Nifty is at 17,604.20 levels, higher 215.70 points. (Updated at 7:55 AM)

Nifty saw a strong day for the 2nd day running as markets reacted to a positive fall in crude oil prices with banks, cement & pharma stocks leading the gains as Nifty closed higher by 100 points.

Mid-caps also saw momentum return as most indices closed higher by 0.50%. This is as intraday volatility rose with an expiry of derivative contracts tomorrow for the March series.

US Market: US markets see superb gains for 2nd day running as Dow Jones climbs over 337 points while Nasdaq clocks over 265 points. Nasdaq has gained over 16.5% from 7th March to date while Dow Jones has gained 8.4%.

Bond yields ease to 2.36% as crude prices decline over 14% in 2 days as ceasefire talks between Russia/Ukraine gather momentum.

Asian Market: Asian markets opened in the red led by the Japanese ‘Nikkei’ which succumbed to profit-booking after the stellar rally over the last fortnight. However, South Korean & Taiwan markets traded in the green as technology stocks lead the global rally in stocks.

Chinese lockdown is seeing a fall in crude coupled with peace talks which bodes well for Asian Corporates & economies.