SGX Nifty and Global indicates a flat to positive opening for Indian markets

SGX Nifty indicates a flat to positive opening for Indian markets

SGX Nifty is at 11,995.50 levels, up 22.50 points. (Updated at 7:48 AM)

The Nifty saw a very volatile session with the index recovering from morning losses of over 110 points to close up 35 points as banks saw huge buying interest which drove the indices higher.

Bank Nifty saw intra day moves of nearly 1000 points as it closed higher by 380 points. This as Supreme Court reserved the order on interest on interest but seemed satisfied with the RBI & Government proposals.

IT stocks bucked the trend & closed lower with Wipro being the biggest loser. Mid caps continue to be under pressure as mutual funds sell aggressively.

US Market: US stocks see another day of correction as indices fall from intraday highs as lack of clarity on stimulus keeps bulls at bay with profit booking emerging in banks & technology stocks.

Oil sees spurt from over as territory which sees energy stocks do well. Bond yields drift lower to close near 0.72% while Gold prices remained unchanged.

Asian Market: Asian markets opened in the red with most indices trading marginally lower as the undertone remains firm with bouts of profit booking emerging. The main focus has to be the US elections & the aftermath as the stimulus package gets delayed before the elections. Chinese stocks have hit all-time highs as market cap exceeds over US$ 10 trillion with mid caps being the real outperformers.