SGX Nifty indicates flat to negative opening for Indian markets - February 17, 2021

Asian markets saw weakness in early trade as after 2 blockbuster days of gains the Japanese Nikkei is taking a pause, trading lower by over 200 points.

SGX Nifty is at 15,242.80 levels, down 17.00 points. (Updated at 7:40 AM)

The Nifty saw another strong opening, however, mid-session profit booking saw the index trade in the red before last hour recovery to close flat after seeing intra day volatility of 200 points.

Banks were the main losers as the Bank Nifty closed lower by 200 points with intra day swings of over 950 points.

Pharma, metals & PSU banks led the gainers while banks, FMCG & IT saw selling pressure with mid-caps also seeing profit booking.

US Market: US markets close with gains however off from day’s highs as profit booking in technology stocks drags the Nasdaq into the red.

Bond yields climb to highest in over a year @ 1.30% as markets see the higher cost of money with growth momentum returning globally.

Oil prices also see the highest close in a year as snow storm sees supply disruption with weather-related logistics seeing prices rise.

Asian Market: Asian markets saw weakness in early trade as after 2 blockbuster days of gains the Japanese Nikkei is taking a pause, trading lower by over 200 points.

The South Korean Kospi also was down over 1.5% as markets saw profit booking with rise in yields seeing caution.

Chinese stocks will react to data as manufacturing activity sees strong rebound.