SGX Nifty indicates a positive opening for Indian markets Dec 09

For today, expect a positive start with profit booking in mid session as overbought readings on the broader markets will see some selling in the 2nd half.

SGX Nifty is at 13,462.80 levels, up 44.00 points. (Updated at 7:58 AM)

The Nifty saw another new high as IT stocks led by TCS led the gainers while large private banks & metals saw profit booking.

The mid cap index continues to outperform with new highs on a daily basis as retail flows bet on value with mid caps seeing gains.

For today, expect a positive start with profit booking in mid session as overbought readings on the broader markets will see some selling in the 2nd half.

US Market: US markets end at fresh new highs as S&P 500 & Nasdaq hit another milestone. Bond yields rise to 0.95% as risk on trade gets full blown with all asset classes rising in tandem.

Oil prices see best month till date as expectations of growth prompts higher consumption with speculative activity seeing prices rise.

Asian Market: Asian markets opened in the green led by the Japanese Nikkei which after 2 days of quiet trade rose over 250 points in early trade.

The other positive is that most Asian markets are seeing the highest ever foreign ETF flows ever, which indicates all dips will be bought into.

Chinese data will see more traction as most Chinese stocks have seen consolidation in the past month.