SGX Nifty indicates a flat opening for Indian markets Dec 04

SGX Nifty is at 13,244.20 levels, down 4.05 points. (Updated at 7:36 AM)

The Nifty saw a smart start to the day with the index soaring to new highs above 13200 before late profit booking in large banks saw the index close flat while Bank Nifty closed marginally in the red.

The weakness was attributed mainly to HDFC Bank, AXIS & select IT heavyweights while auto stocks continued to lead the gainers with Maruti gaining over 7% in a single session.

Mid caps continue to move with over bought readings on many counters signaling a much needed correction is on the way.

US Market: US markets see gains get tempered by end as Dow Jones faces strong resistance @ 30000.

Nasdaq closes at another all time high while oil rally sees energy stocks lead the Dow Jones.

Bond yields remain near 0.94% even as higher inflation expectations could see yields rise.

Asian Market : Asian markets opened mixed with the Japanese Nikkei trading lower by 40 points even as the South Korean Kospi hit fresh new all time highs driven by large IT players.

Chinese stocks continue to underperform the benchmark Asian stocks as markets await the new policy from new President elect Biden with regards trade with China.