SGX Nifty indicates positive opening for Indian markets

21 Apr 2022 , 08:10 AM

SGX Nifty is at 17,227 levels, higher 54 points. (Updated at 8:10 AM)

The Nifty saw a smart comeback after the last hour selloff on Tuesday as Reliance led the index to close higher by over 175 points. Bank Nifty also managed to close flat despite HDFC bank seeing relentless selling pressure. Auto, cement & OMC lead the gainers as ACC earnings beat street estimates while Reliance closed within striking distance of new all-time highs up nearly 3%.

Midcaps also saw a rebound with Nifty 100 closing higher by 1%.

US Markets: US markets saw a mixed day with Dow Jones gaining 250 points while Nasdaq loses over 1% as profit booking & sharp fall in Netflix weigh on the index. Oil prices see a mild rebound after falling over 5% on Tuesday.

Bond yields also see weakness to close near 2.87%, while after hours Tesla earnings beat all estimates.

Asian Markets: Asian indices opened in the green led by the Japanese “Nikkei’ which traded higher by over 250 points in early trade. South Korean markets also traded higher as steel & auto stocks see a rebound.

Chinese stocks will also react positively to Tesla’s earnings as a major supply chain will benefit Chinese companies.