SGX Nifty indicates a positive opening for Indian markets Nov 24

SGX Nifty indicates a positive opening for Indian markets

SGX Nifty is at 12,989.80 levels, up 38.75 points. (Updated at 7:38 AM)

The Nifty saw another smart day with the index closing at all time highs even as the bank Nifty ended lower.

IT & pharma led the rally with big boy Reliance rising over 2% to see the Nifty end near 13000. Banks saw selling pressure with the HDFC twins & ICICI seeing profit booking.

Mid caps have been the star revelation in this month as they trade just shy of all time highs with the breadth showing huge traction on the upside.

US Market : US markets end in the green with Dow Jones climbing over 300 points as early vaccine availability sees industrial stocks lead the rally.

Nasdaq closes almost flat as money chases cyclicals with FAANG stocks seeing profit booking.

US$ sees smart pullback from oversold territory as President elect Joe Biden officially declared President of the United States Of America.

Asian Market: Asian markets opened in the green led by the Japanese Nikkei which was closed for a holiday on Monday & sees strong buying return with the index up over 600 points in early trade.

Asian markets have been the recipient of large ETF flows & hence have outperformed most developed markets.

For today Chinese stocks will again see momentum as trade data due this week could see mid caps outperform.