SGX Nifty indicates positive opening for Indian markets; Global cues mixed

15 Feb 2022 , 07:44 AM

SGX Nifty is at 16,932.00 levels, higher 59.00 points. (Updated at 7:44 AM)

The Nifty saw its biggest sell-off in over 8 months as the index tanked over 530 points with the Sensex falling 1700 points.

Bank Nifty was the main culprit as it fell over 1600 points or 4% with large-cap banks like SBI & ICICI leading the losers along with steel stocks & select insurance stocks.

There was only 1 gainer TCS as the breadth was skewed in favor of sellers with the Nifty midcap & smallcap 100 index down 4%.

US Market: US markets see another weak day as markets react to geopolitical risk with Ukraine/Russia tension adding to the woes of higher rates.

Dow Jones closes lower by 170 points after seeing an intraday dip of over 433 points. Nasdaq closes flat after seeing intraday swings of over 250 points. Oil prices touch a 7-year high as WTI hits US$95, while bond yields close to 1.97%.

Asian Market: Asian markets opened muted with the sell-off on Monday seeing most indices trade flat as markets digest the news flow regarding action on geopolitics & the expected Federal Reserve rate tightening cycle.

US$ strength & higher bond yields will see some ETF selling in most emerging markets with Asian outperformers now seeing profit booking.