SGX Nifty is at 14,905.00 levels, up 24.50 points. (Updated at 7:50 AM)
The Nifty saw a volatile session with early morning blues giving way to a sharp short-covering/value buying day as the index gained over 130 points led by banks as the Central Bank sounded very 'dovish' in rates outlook with growth being the key in his monetary outlook.
The rupee lost 1.5%, its sharpest fall in over 4 months as US$ bears got caught on the wrong foot with RBI assuring higher money supply which saw huge $ buying.
IT, banks & auto led the winners with mid caps again outperforming the Nifty as value beat growth.
US Market: US stocks see consolidation as indices close flat with Dow Jones gaining marginally & Nasdaq closing flat.
Bond yields inch lower to hit 1-month lows @ 1.65% while US$ sees a return of strength.
Most investors now await earings from large Corporates with social media stocks seeing build up in anticipation of results.
Asian Market: Asian markets opened muted with the Japanese Nikkei trading lower by 100 points in early trade while the rest of the region traded flat.
Chinese stocks failed to gain traction yesterday despite better than expected data on economic growth as markets continue to watch the 2nd wave of Covid infections carefully.
Expect some more consolidation as markets await Corporate results & guidance before seeing any major moves on stock prices.