SGX Nifty indicates positive opening for Indian markets

31 Jan 2022 , 07:35 AM

SGX Nifty is at 17,238.50 levels, higher 121.00 points. (Updated at 7:35 AM)

The Nifty saw a strong bout of volatility as after a strong start last hour selling by foreign investors saw the index give up all gains to close down 8 points after being up over 270 points in intraday.

Bank Nifty was the main culprit as it succumbed to profit-booking closing lower by over 290 points after seeing intraday swings of over 840 points.

IT, pharma & media stocks led the gainers while banks, auto & financial services led the losers.

US Market: US markets see a superb comeback as Dow Jones finally closes well in the green rising over 550 points while Nasdaq climbs over 3.30% or 420 points.

Bond yields fall to 1.78% while oil sees the highest close in over 7 years as demand & cold weather see supply issues favour bulls.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which traded higher by over 200 points in early trade.

The Chinese & Taiwan stock markets will be closed this week for the Lunar holidays which should see volumes dip in China-related stocks.

South Korean markets saw strong buying interest as steel stocks rebounded strongly after Posco increased its guidance for this year.