SGX Nifty indicates a negative opening for Indian markets Nov 6th

For today expect some consolidation & volatility as we near 12200 where local mutual fund selling will get even more aggressive.

SGX Nifty is at 12,162.50 levels, down 38.75 points. (Updated at 7:35 AM)

The Nifty saw a superb day as foreign investors bought to their heart’s content with the index jumping over 200 points to close at an 8 month high.

Bank Nifty also saw another superb move jumping over 400 points & adding over 2700 points since last Friday.

For today expect some consolidation & volatility as we near 12200 where local mutual fund selling will get even more aggressive.

US Market: US stocks see best week since April as markets running ahead of all negatives on the back of expected liquidity push & lowest ever interest rates.

Bond yields continue to see volatile movements hitting 0.73% even as risk on in equities drives stocks higher. US$ sees some strength as election results see legal intervention.

Asian Market: Asian markets opened muted after a superb Thursday as markets awaited the final outcome of the US elections where counting & legal intervention could drag the outcome.

Chinese stocks will be in the centre of action as Biden win bodes well for better relationships between the US & China & could outperform if he wins as exporters would be the key gainers.