SGX Nifty is at 14,501.50 levels, down 102.50 points. (Updated at 7:44 AM)
The Nifty saw another weak day as the market gave up all gains by mid-session & closed at 6-week lows as fear of rising rates in the US saw the liquidation of long positions in derivatives which saw stocks sink lower.
Banks led the index lower with even IT stocks seeing profit booking as large-cap names joined the selloff.
Weekend blues will see weakness persist during 1st half even as expect some local buying to emerge during the second half as valuations become very attractive.
US Market: US stocks close with losses as last hour selloff sees Dow Jones correct from fresh new all-time highs to close lower by 150 points.
Nasdaq continues to underperform with 400 point loss as rising yields hits growth stocks.
Oil prices fall over 4% as markets see liquidation in all risk-off asset classes.
Asian Market: Asian markets opened in the red led by the Japanese 'Nikkei' which traded lower by 200 points in early trade.
The consolidation of markets has seen fresh money exit equities & re-enter fixed income as rising yields see a shift of fund flows.
However the same may be short-lived as most Asian markets now at the cusp of growth as reopening sees huge demand.