SGX Nifty is at 14,481.80 levels, up 0.25 points. (Updated at 7:49 AM)
The Nifty saw another superb day with the index relentless in hitting new highs led by IT stocks after superb results by TCS.
Banks were the spoilsport as they saw profit booking as globally bond yields hit 1-year highs.
Mid-caps also saw profit booking while large-cap stocks lead by IT, cement & auto rallied the index.
For today expect more gains in the morning session with profit booking in 2nd half as Nifty faces strong resistance near 14500.
US Market: US markets fall after five days of unstoppable gains as banks & IT lead indices lower with social media stocks in the firing line as Twitter leads the fall.
Bond yields rise further to 1.13% as the cost of money rises with ‘risk-on’ trade-in most asset classes reaching higher levels.
Bitcoin sees another volatile day with huge fall of over 15% before staging last hour recovery to close down 8%.
Asian Market: Asian markets opened muted with the South Korean ‘Kospi’ trading marginally lower for a change as the Japanese ‘Nikkei’ was the only index trading in the green.
This as US$ makes a strong comeback from the deeply oversold territory which could see more profit booking in emerging markets.
Chinese data will be key as mid caps stocks will see more profit booking as debt burden rises which could hurt return on capital.