SGX Nifty indicates a negative opening for Indian markets Dec 07

For today expect another strong bout of foreign buying as global cues seeing an overbought markets getting stronger with lurking fear of a strong correction down the line.

SGX Nifty is at 13,277.80 levels, down 49.25 points. (Updated at 7:41 AM)

The Nifty saw a smart end to the week on Friday as it closed above 13250 with banks leading the upside as bank Nifty jumped over 2% to close above 30000.

ICICI bank,Bharti & SBI lead the gainers with metals, NBFC & pharma stocks leading the gainers while PSU stocks & Reliance saw selling pressure.

For today expect another strong bout of foreign buying as global cues seeing an overbought markets getting stronger with lurking fear of a strong correction down the line.

US Market: US markets end at fresh new highs as liquidity sees equities touch fresh new all time highs.

Dow Jones jumps over 250 points while Nasdaq crosses 12450 while bond yields also see highest close in over 6 months.Oil prices see another bout of buying as weaker US$ sees all asset classes rise including Bitcoin hitting fresh new 3 year highs.

Asian Market: Asian markets opened flat as the Japanese ‘Nikkei’ was trading in the red marginally while other Asian markets were trading off their morning highs.

This as liquidity keeps the momentum in most Asian indices at fresh new highs with equities outperforming all asset classes.

Chinese stocks will see more action as GDP data due this week will see more traction with stronger then expected rebound in growth.