SGX Nifty indicates a flat to negative opening for Indian markets Oct 28

SGX Nifty is at 11,852.00 levels, down 23.00 points. (Updated at 7:38 AM)

The Nifty saw a very strong session after mid way as foreign investors bought aggressively with banks leading the gainers.

Bank Nifty gained nearly 700 points or 3% as MSCI recast to benefit Indian banks as weightage gains may see more inflows.

Pharma, metals & media were the other gainers while PSU banks, realty & IT saw profit booking. With expiry of derivative contracts tomorrow expect intra day volatility to rise even as Nifty outperforms global benchmarks.

US Market: US stocks close mixed as Dow Jones falls in last hour to end the day @ one month lows.

Nasdaq sees buying interest return to close up nearly 1% as technology merger activity sees buying return.

Bond yields fall another day even as higher inflation may limit downside.

Asian Market: Asian markets opened flat after the US markets closed in the red another day even as data for most Asian markets including Corporate results are beating estimates; weak US$ bodes well for all corrections to be bought into as Asian emerging markets to be outlier in the next 2 years.

Chinese stocks will again be eyed as data for exports could see more traction with mid cap Corporates benefiting in the short term.