SGX Nifty indicates muted opening for Indian markets
Asian markets opened mixed with the Japanese 'Nikkei' trading lower by nearly 400 points in early trade as growth data meets expectations, but higher local lockdowns are expected to have an impact on macros.
August 16, 2021 7:50 IST|India Infoline News Service
SGX Nifty is at 16,482.20 levels, lower 35.80 points. (Updated at 7:50 AM)
The Nifty closed at a fresh all-time high as it crossed the 16,500 with a flourish as IT stocks lead the gains.
IT index closed at an all-time high with Wipro, HCL Tech, and TCS leading the winners and guiding the index to new highs.
Auto and pharma stocks saw profit booking with Eicher Motor and Dr. Reddy being the biggest index losers.
Midcap stocks continue to underperform as profit booking and rotation into large caps see pressure on stocks.
US Market: US indices end at an all-time high on Friday as Dow Jones closed above 35,500 after hitting 35,600 intraday.
Nasdaq also closed above 14800 even as markets price in higher inflation. Bond yields cool off to 1.27% as expectations of unchanged rates keep yields lower.
Oil prices fall to 2-month lows as lower demand and 3rd delta variant see pressure on prices.
Asian Market: Asian markets opened mixed with the Japanese 'Nikkei' trading lower by nearly 400 points in early trade as growth data meets expectations, but higher local lockdowns are expected to have an impact on macros.
All eyes will be on Chinese growth numbers due later today which will indicate how well the largest Asian giant is growing.