SGX Nifty indicates positive opening for Indian markets 1st feb 2021

SGX Nifty is at 13,764.80 levels, up 140.75 points. (Updated at 7:52 AM)

The Nifty saw weakness for the 6th day running as it fell another 182 points or almost 300 points from day’s highs.

Bank Nifty managed to close in the green even as it saw intra day swings of over 850 points.

Foreign selling continued for the 5th day running with index-based sell-off as ETF selling dominated the day.

For today, expect higher volatility with an upward bias as markets much lighter after an 1100 point correction from the top.

US Market: US markets end Friday down over 2% as markets have worst week in over 6 months with gaming stocks leading hedge funds to sell equities across the board.

Bond yields fall to 1.03% while Silver stands out as it sees the highest weekly close in over 1 year.

Traders focus on small-cap & bullion could see more volatility as markets gear up to faster movement on a stimulus package.

Asian Market: Asian markets opened in the green led by the Japanese Nikkei after seeing the worst week in many months.

Most commodity stocks led the indices higher as Silver leads from the front.

Chinese stocks could see more action after having a very weak week as the Central Bank increases liquidity into the system