SGX Nifty is at 12,962.50 levels, up 67.40 points. (Updated at 7:35 AM)
The Nifty saw a sharp 2nd half pull back on Friday as foreign investors bought banks & cyclicals to see Nifty end higher by 88 points. Bank Nifty also saw recovery as it closed with gains of 333 points before being down 300 in intra day trade. Reliance saw 2-week lows as selling pressure continues to see the stock underperform. For today, expect higher volatility as we enter expiry of derivative contracts week for November with highest ever foreign investor buying propping new highs on the indices.
US Market: US markets end the week with losses as Dow Jones falls over 220 points while Nasdaq falls close to 0.5%, as no early signs of stimulus, growing concern over rising virus cases & Federal Resereve likely to discontinue select treasury support for industries. US$ sees weakness while bond yields trade near 0.84%, with oil prices being last week's biggest gainers.
Asian Market: Asian markets opened in the green led by the South Korean Kospi & the S&P ASX which saw optimism on early vaccine usage being the trigger for near term return of normalcy. Economic activity also to see renewed optimism which could see industrials outperform. Emerging markets to outperform with Asia ex Japan seeing more flows.