SGX Nifty indicates positive opening for Indian markets

25 Jan 2022 , 07:50 AM

SGX Nifty is at 17,002.20 levels, higher 128.75 points. (Updated at 7:50 AM)

The Nifty saw a weak close 5th day running with the biggest sell-off in over 1 year.

This as foreign investors selling coupled with lack of local buying saw fear dominate the screen as Russia/Ukraine tensions dampened the sentiment further.

Metals, IT and Bajaj twins led the losers while Bank Nifty also closed lower by over 600 points despite solid results from ICICI. Midcaps lost over 4% as the collateral selling saw weakness across the board. 

US Market: US markets see the biggest pullback in over 2-years with Dow Jones closing in the green after being down over 1000 points.

Nasdaq recovers to close higher by 86 after being down over 750 points in intraday trade. US bond yields cool-off to trade near 1.71% before the Federal Reserve meeting on Wednesday.

Asian Market: Asian markets opened weak as the Japanese ‘Nikkei’ traded lower by over 500 points in early trade as it had closed in the green yesterday & with US futures trading lower there was selling pressure in early trade.

The same was witnessed in other Asian markets as the Taiwan markets prepare for the Lunar holidays from 27th January to 7th February. Chinese stocks had a good day yesterday & may also see profit booking ahead of the long week of holidays.