SGX Nifty indicates flat to negative opening for Indian markets 22nd Jan 2021

SGX Nifty is at 14,585.40 levels, down 7.50 points. (Updated at 7:45 AM)

The Nifty hit 14750 with Sensex crossing 50000 on the opening bell as huge euphoria saw stocks jump to fresh new highs.

However last hour profit booking saw a sharp sell-off with index closing lower by 54 points after oscillating over 236 points intra day.

Bank Nifty also saw new highs & intra day moves of over 800 points before closing lower by 350 points.

For today, expect more volatility as we end the week with milestone numbers being hit.

US Market: US markets see record highs for another day as Nasdaq closes up 1% while Dow Jones closes flat.

Bond yields edge up to 1.11% as markets look forward to big stimulus from Janet Yellen.

Auto, industrials & insurance see buying interest even as technology stocks see profit booking.

Asian Market: Asian markets opened flat to mildly negative with the Japanese Nikkei trading lower by 100 points as markets end the week on a sombre note after touching new record highs.

The star this week was the Hang Seng index which hit 3 year highs as markets search for higher ‘delta’ from under performing markets.

Chinese stocks listed in Hong Kong saw buying interest as markets look for value with Chinese banks leading the rally.