SGX Nifty indicates muted opening for Indian markets today - 12th feb 2021

For today, expect a quiet day with most action in select energy & pharma names as broader markets consolidate.

February 12, 2021 8:16 IST

SGX Nifty is at 15,178.50 levels, down 12 points. (Updated at 8:02 AM)

The Nifty saw another day of gains after the correction of the last 2 days as Reliance sprung a surprise & led the Nifty higher hitting 2-month highs.

Telecom stocks were the flavour along with select metals & pharma as Nifty outperformed the Bank Nifty which succumbed to profit-booking with HDFC & ICICI Bank leading the decline.

For today, expect a quiet day with most action in select energy & pharma names as broader markets consolidate.

US Market: US markets close flat as Dow Jones ends marginally lower while Nasdaq closes in the green.

Consolidation was the key today as markets saw sectoral rotation with pharma & IT stocks leading while industrials saw profit booking.

Bond yields edged lower as oil prices saw a fall 2nd day running.

Asian Market: Asian markets saw a muted start as most remain closed for the Chinese New year weekend which sees Chinese markets closed till next week.

Weaker US$ bodes well for most emerging markets even as economic activity resumes with vigor in most countries as the vaccine makes its way into the system.

Expect range bound trade today as markets stay quiet ahead of the weekend with institutions on the sidelines.