SGX Nifty indicates a negative opening for Indian markets Nov 10th

SGX Nifty indicates a negative opening for Indian markets

For today, expect industrials top gains even as IT stocks see profit booking with pharma stocks also seeing weakness.

SGX Nifty is at 12,699.50 levels, down 74.25 points. (Updated at 7:38 AM)

The Nifty saw a super start to the week scaling all time highs as foreign flows seem unabated & strongest ever with banks leading the charge.

Bank Nifty saw further buying to gain over 15% from the start of November till date as lower cost of funds & under ownership saw buying get stronger.

For today, expect industrials top gains even as IT stocks see profit booking with pharma stocks also seeing weakness.

US Market: US stocks start the week with new highs on all indices as Pfizer claims efficacy of over 90% on Covid vaccine which sees markets rise.

Dow Jones jumps over 1600 points intra day before paring gains to close higher by 830 points.

Technology & digital stocks see sharp sell off as industrials gain with expectation of Work From Home reducing sharply.

Asian Market: Asian markets opened in the green led by the Japanese Nikkei even as indices slipped from their highs as profit booking emerged.

Most Asian markets had scaled near term highs on Monday after the election uncertainty ended over the weekend with President Joe Biden declared elected.

For today, expect more consolidation as vaccine good news gets discounted with most indices trading near 6 month highs.