SGX Nifty indicates a positive opening for Indian markets Dec 01

Asian markets opened with gains as they rebound after yesterday’s sharp sell off.

SGX Nifty is at 12,992.50 levels, up 65.25 points. (Updated at 7:42 AM)

The Nifty saw a flat day on Friday after the best ever close for the November series of derivative contracts with the Nifty closing over 13000.

The index did see volatile intra day moves as most foreign flows were seen rebalancing portfolio’s against the changes in MSCI index weightage.

The undertone remains flat for the Nifty with outperform for the mid caps as they see huge interest from retail & institutional investors.

US Market: US markets end mixed as Dow Jones closes lower by almost 250 points while Nasdaq recovers all losses to close flat after being down over 1% in intra day trades.

Bond yields trade unchnaged @ 0.84% while crude prices see sharp correction after seeing the best month of the year. Global equities see best November ever in over 30 years.

Asian Market: Asian markets opened with gains as they rebound after yesterday’s sharp sell off which saw all Asian markets fall in tandem as routine profit booking saw the Hang Seng lead the indices lower.

The Japanese Nikkei saw gains of over 1.5% in early trade as Covid cases started to see moderation in the 2nd wave of infections.

Gold prices see sharp correction in November as riskier asset rule the roost with Bitcoin also seeing the best month to date.