SGX Nifty indicates negative opening for Indian markets - March 03, 2021

For today expect some more consolidation with the mid-cap index hitting fresh new all-time highs as money chases value rather than growth.

March 03, 2021 8:15 IST

SGX Nifty is at 15,019.20 levels, down 24.75 points. (Updated at 7:48 AM)

The Nifty saw a strong rebound for the 2nd day running as it approached 15000 with the index clocking gains of nearly 160 points.

Foreign investors turned big buyers as strong underlying changes in the economy heralded by the budget started to see implementation.

IT majors along with pharma were the preferred picks as banks saw muted action.

For today expect some more consolidation with the mid-cap index hitting fresh new all time highs as money chases value rather than growth.

US Market: US markets close with losses as profit booking emerges across the board led by technology stocks.

Bond yields fall to 1.39% even as US$ sees continued weakness trading near 90.35.

Emerging markets see a strong rebound with the Brazilian 'Bovespa" index jumping higher by over 2% while Asia ex-Japan also see positive ETF flows.

Asian Market: Asian markets opened muted after the late sell-off yesterday tracking the weakness in Dow Jones futures.

The rise in bond yields coupled with changes in the Hong Kong index has seen relative under performance in China listed plays as markets adjust to the new norms.

For today expect some more consolidation with select markets seeing more traction as investors return to emerging markets.