SGX Nifty is at 17,936.50 levels, lower 41.50 points. (Updated at 7:40 AM).
The Nifty saw a weak session even as IT & auto stocks saw huge buying interest.
Reliance, metals & banks led the weakness with Bank Nifty seeing weakness for 3rd day running as ICICI, AXIS & SBI saw selling pressure.
Maruti was the star for the day rising over 7% as semiconductor shortage ends with expectations of normalization by month-end.
Mid-caps also saw weakness as the broader markets saw weakness.
US Market: US markets end with gains as Dow Jones closes higher by 55 points while Nasdaq closes higher by over 120 points.
Bond yields hit 1.63% as the inflation threat sees expectations of an earlier than expected rate hike by the Federal Reserve in mid-2022.
Oil prices see weakness with WTI closing @ 79 (at 1 month low) as IEA sees oil supplies now normalizing.
Asian Market: Asian markets opened in the red as the Japanese Nikkei was trading lower by over 100 points along with profit booking in South Korean stocks.
Chinese stocks have lagged the Asian peer indices as Government policy on internet firms & problems in the realty sector have seen foreign investors sell stocks.
However, now with valuations looking attractive against the rest of the region expect year end buying to lift stock prices.