SGX Nifty indicates negative opening for Indian markets - March 10, 2021

For today expect some more gains in frontline IT stocks with mid-caps also joining the rally.

March 10, 2021 8:40 IST

SGX Nifty is at 15,227.80 levels, down 35.20 points. (Updated at 7:42 AM)

The Nifty saw a volatile session with morning gains getting wiped out during mid-session before last hour buying by both foreign & local funds saw the Nifty close up 142 points at 15100.

IT stocks led the last hour buying as all large-cap heavyweights saw buying coupled with large banks which drive the index higher.

Mid-caps saw profit booking third day running as it ended in the red marginally.

For today expect some more gains in frontline IT stocks with mid-caps also joining the rally.

US Market: US tech stocks stage a superb comeback with Nasdaq closing higher by 464 points.

Dow Jones hits fresh new all-time highs but profit booking in the last hour sees the index give up all intraday gains.

Bond yields fall to 1.54% as markets discount higher borrowings with stocks seeing huge gains.

Asian Market: Asian markets opened muted with the Japanese ‘Nikkei’ trading almost flat as most markets saw profit booking as consolidation takes place to adjust to the higher bond yields scenario.

Chinese stocks have been the laggards in this period & could see strong support as data on exports shows stronger than expected growth.