SGX Nifty indicates a negative opening for Indian markets Oct 30

SGX Nifty indicates a negative opening for Indian markets

SGX Nifty is at 11,631.80 levels, down 38.45 points. (Updated at 7:40 AM)

For today, expect consolidation with global cues dominating the market moves even as Corporate results beat estimates.

The Nifty saw a weak session as the expiry of derivative contracts coupled with weak global cues saw a tepid expiry for October. Foreign investors have been the strength behind Indian outperformance even as local mutual funds face an array of redemptions against stark underperformance.

US Market: US stocks see comeback with Nasdaq leading the gainers as technology stocks rebound.

Earnings heavy day could see more volatility as large cap stocks deliver results. Oil prices back to March lows as rising Covid in Europe & the US could deter transportation.

Asian Market: Asian markets opened weak ahead of the weekend with volatility expected to continue in global equity markets facing the double whammy of rising Covid cases & very close US elections.

Big IT results from US giants could see more reaction in early Asian markets as Taiwan & South Korean markets react to numbers.

Chinese economic recovery mitigates part of the global expected slowdown with Asian economies set to gain.