SGX Nifty indicates a negative opening for Indian markets Nov 4th

SGX Nifty is at 11,806.80 levels, down 32.05 points. (Updated at 7:29 AM)

The Nifty saw a positive day as banks led the gainers for the 3rd day running to close higher by over 145 points.

Bank Nifty closed higher by nearly 800 points or 3.17% as large banks like ICICI & HDFC led the gainers.

Pharma stocks were buoyed by steller numbers from Sun Pharma & was the outperforming sector of the day.

For today, expect mid caps to lead the gains as Nifty will see some more consolidation after the sharp 3 day rally.

US Market: US stocks see smart 2 day rally as Dow Jones jumps over 550 points or 2% while Nasdaq closes higher by 1.85%.

Bond yields hit 4 month highs climbing to 0.89% as risk on trade sees higher cost of money.

Markets convinced large stimulus package in the offing irrespective of who wins the elections.

Asian Market: Asian markets opened higher led by the Japanese Nikkei, which was closed for a holiday on Tuesday & traded higher by nearly 400 points in early trade.

Most markets will see higher volatility as election results trickle in during the day.

The undertone remains very bullish as large stimulus will see weaker US$ which bodes well for most Asian economies & markets.