SGX Nifty is at 14,143.00 levels, lower 147.00 points. (Updated at 7:40 AM)
The Nifty saw a volatile session end in the red even as intraday swings saw the index oscillate 317 points.
Bank Nifty saw swings of over 840 points before closing down 100 points as large-cap banks led by HDFC, SBI & Kotak dragged the index lower.
Mid-cap stocks did better as short-covering/value buying saw smart money buy as valuations became very attractive.
US Market: US stocks close with gains as markets resume upside after 2 days of corrections. Nasdaq rises over 1.2% while Dow Jones jumps over 300 points. Bond yields fall further to 1.53% testing the recent lows while US$ sees a bearish undertone. Transport stocks along with financials see the best week in over 3 months.
Asian Market: Asian markets opened in the green led by the Japanese Nikkei, which was trading higher by nearly 350 points after seeing weakness for the last week. The undertone in most Asian markets remains weak as profit booking emerges on all rallies. However, given the weakness persisting in the US$, Asian markets ex-Japan could see value buying emerge once again.
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