SGX Nifty is at 15,102.80 levels, down 131.25 points. (Updated at 7:38 AM)
The Nifty saw a weak day for the 2nd day running as higher crude & bond yields saw both foreign & local fund turn sellers with mid-caps being the main culprit for the sell-off.
After hitting all-time highs the mid-cap index succumbed to profit-taking as local funds sold mid caps & increased exposure to large-cap stocks.
The undertone remains strongly in favour of midcaps & PSU stocks & any further decline would be an opportunity to buy more.
US Market: US jobs data beat street estimates by miles which in turn sees Dow Jones stage a huge rally from oversold levels to close higher by nearly 600 points.
Nasdaq sees the biggest intraday gains in over 1 year as it bounces from down 2.5% to close higher by 1.5%.
Oil & bond yields spike again as Saudi Oil attack sees brent crude trade near US$70.
Asian Market: Asian markets opened in the green led by the Japanese 'Nikkei' which traded higher by 1% as a strong US rebound coupled with strong exports data from China saw most Asian markets trade with gains of nearly 1% +.
The other positive was the strong macro numbers in jobs data & consequent better than expected exports data from China which should allay fears of the bond rally being the indicator of strong economic growth rather than the other way around.