SGX Nifty indicates flat opening for Indian markets 10th feb 2021

SGX Nifty is at 15,155.50 levels, up 7.75 points. (Updated at 7:45 AM)

Nifty saw another new high before last hour profit booking saw all gains for the day get wiped out with index closing lower by 5 points after being up over 150 points.

Bank Nifty also saw high volatility as the index swung almost 1000 points from high to lows intraday before closing up 75 points.

Foreign investors were buyers in insurance & mid-cap stocks while local funds booked profit in pharma & IT.

US Market: US markets close flat as equity rally stalls with US$ seeing weakness & bond yields falling.

Nasdaq closes above 14000 for the 1st time in history as technology stocks edge higher.

US$ enters fresh bout of weakness which could see most Asian markets ex-Japan do well in the near term.

Asian Market: Asian markets saw a flat open with the Japanese Nikkei trading lower by 100 points after seeing a huge rally last week which saw the index hit 2 year highs.

Weakness in US$ will see pressure on Japanese conglomerates which have manufacturing set up in the US & which hurts currency exchanges.

Chinese stocks saw solid ETF flows as investors look for higher ‘delta’ from Chinese market.