SGX Nifty indicates a negative opening for Indian markets

SGX Nifty indicates a negative opening for Indian markets

For today expect oversold mid caps to bounce once the Supreme Court order is over with pharma stocks seeing a bout of profit booking along with IT.

The Nifty saw another lackluster day with Reliance & select IT stocks holding the first while the broader markets continue to languish.

Banks again saw selling pressure as Supreme Court uncertainty got prolonged by another day to Wednesday & mid caps also saw local mutual funds selling which added to the weakness.

For today expect oversold mid caps to bounce once the Supreme Court order is over with pharma stocks seeing a bout of profit booking along with IT.

US Market: US stocks take a breather after 4 days superb rally as Dow Jones falls 150 points while Nasdaq closes almost unchanged.

Bond yields dip to 0.74% even as oil sees further decline as outlook for economic growth reduces consumption scenario.

Gold prices also fall as the lure for metals falter with stimulus discussions in US seeing to & fro movements.

Asian Market: Asian markets opened in the red but cuts were muted as most Asian indices were flat even yesterday.

The outlook for equities remains unchanged with US election volatility seeing some ebbing of interest.

Chinese stock market cap exceeds US$10 trillion with mid caps leading the charge as ETF flows add to momentum in Chinese stocks.