SGX Nifty is at 14,255.20 levels, down 1.75 points. (Updated at 7:46 AM)
The Nifty saw a volatile day close in the red after unstoppable gains for the last week.
Markets saw foreign investors turn sellers 1st time in over 2 months.
IT, pharma & auto were under pressure while banks & metals led the gainers with Bank Nifty scaling 32000 briefly intraday.
The rise in open interest in the derivative markets could see more volatility as foreign investors hedge against correction anticipated this week.
US Market: US markets hit fresh all-time highs as Dow Jones scales 31000 intraday with Democrats winning 50% of the Congress votes.
Investors now feel stimulus package to be enlarged by new President-elect.
Bond yields climb to February highs crossing 1.03% as fresh funding to be raised by Federal Reserve sees rise in the cost of funds.
Nasdaq, however, saw profit booking as technology stocks closed in the red.
Asian Market: Asian markets opened gap up with the Japanese Nikkei climbing up over 400 points in early trade as renewed optimism on fresh US stimulus drove Asian stocks higher.
Industrials will see better optimism as more infra spending to benefit stocks related to industry.
Chinese stocks will again see action as the US extends a ban on Tencent & Alibaba, which could see the local listed stocks see volatility.
Related Story
Related Tags:
Get Access to Stock Reports+ and Customised Investment Ideas
Thank you! Our representative will contact you shortly!