SGX Nifty indicates positive opening for Indian markets

31 Mar 2022 , 07:42 AM

SGX Nifty is at 17,590.50 levels, higher 201.95 points. (Updated at 7:42 AM)

Nifty saw a strong day for the 3rd day running as a fall in oil, short-covering before expiry of derivative contracts & foreign buying spurred the bulls with Nifty hitting 17500.

Bank Nifty led the gainers with Axis bank & HDFC bank, while HDFC Life & Bajaj twins led the winners. Profit booking was seen across the board in metals as Hindalco, Tata Steel & JSW Steel led the losers.

The mid cap index also closed with gains as Nifty midcap 100 closed 1.10% higher. 

US Market: US markets see profit booking as Dow Jones falls 66 while Nasdaq falls harder after a dream fortnight losing 170 points. US bond yields fall further to 2.33% while oil prices see a comeback gaining over 3%. Stocks set to end March with best fortnight in over 2 years.

Asian Market: Asian indices opened muted with the Japanese ‘Nikkei’ trading flat while rest of Asian markets saw mild gains. This as markets prepare to end March seeing the best fortnight in over 3 years.

South Korean markets also saw strong rebound last week after seeing strong profit booking in fear of Covid recurrence & slow down in manufacturing.