SGX Nifty is at 15,768.50 levels, higher 87.55 points. (Updated at 7:42 AM)
The Nifty had a fall for the 2nd day running as weak global cues & strength in US$ saw foreign investors turn sellers at the margin.
Metals, banks & industrial stocks saw selling pressure while IT & FMCG led the gainers.
Today fall in bond yields bodes well for banks that could see short covering/value buying.
Mid-caps saw profit booking which could continue today also as investors buy large-cap heavyweights consumer stocks.
US Market: US stocks see the mixed reaction to the Federal Reserve outlook with Dow Jones falling another 200 points while Nasdaq within striking distance of new all-time highs.
Bond yields fall sharply to 1.51% which sees technology stocks rally while banks & industrials see profit booking. Most Dow Jones losses arise from selling in Caterpillar & JP Morgan.
Asian Market: Asian markets opened in the green led by the Japanese Nikkei which traded higher by 100 points as a fall in yields & strength in US$ bode well for Japanese exports.
US$ pullback is being viewed as an opportunity to sell as the currency is the weakest globally which could see ETF flows pick up in Asian markets.
Chinese stocks will be in action as exports beat estimates for the last 3 months.
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