SGX Nifty indicates negative opening for Indian markets 28th Jan 2021

SGX Nifty is at 13,929.50 levels, down 54.75 points. (Updated at 7:48 AM)

The Nifty saw weakness for the 3rd day running to record the biggest consecutive fall since September as foreign investors turned sellers with no support from local funds.

Volatility jumped to highest in over 3 months as the expiry of derivative contracts & weak global cues added to the weakness.

For today, expect some consolidation as short-covering & value buying return with most pre-budget caution getting priced in.

US Market: US markets see biggest 3-day correction since October as global cues & excess speculation fuel sell-off.

Gaming stocks continue to trap short-sellers as markets see a rise in volatility after 3 months of non-stop gains.

Bond yields fall to 1.03% even as Federal Reserve maintains no change stance with an assurance of more credit if needed.

Apple, Facebook lead Dow Jones futures higher aftermarkets with a beat on results.

Asian Market: Asian markets opened in the red led by the sell off overnight on Wall Street.

Most Asian markets were seeing some correction from the this week & could see more consolidation even as South Korean Prime Minister says the country will be the first to be back to better growth than pre Covid as business rebounds sharply