SGX Nifty indicates positive opening for Indian markets - 23rd feb 2021

Asian markets opened in the red led by the South Korean ‘Kospi’ even as most other indices saw a reaction to the US close.

February 23, 2021 7:45 IST

SGX Nifty is at 14,796.00 levels, up 89.20 points. (Updated at 7:44 AM)

The Nifty saw another sell-off for the 5th day running as higher yields, spurt in crude & rising Covid cases in Maharashtra saw bears dominate the day with the Nifty seeing its worst fall in over 2 months.

Metals were the only gainers as Copper prices hit 10-year highs with Hindalco & Vedanta leading the gainers.

Mid-caps also joined the sell-off as derivative contracts expiry on Thursday put further pressure on rollovers.

US Market: US markets see mixed close as Nasdaq slips down to three-week lows while Dow Jones recovers intraday losses of over 200 points to close with minor gains.

Bond yields hit 1.34% as crude prices see the further jump as colder weather & global growth outlook see bulls dominate crude prices.

Bitcoin sees huge sell-off along with Tesla which closes near three-month lows.

Asian Market: Asian markets opened in the red led by the South Korean ‘Kospi’ even as most other indices saw a reaction to the US close.

Asian markets have been consolidating even as Chinese markets resumed trade after the long holidays to trade in the red.

This as yuan strength is seeing more strength in importer driven Companies as investors await more outlook on mid-cap corporate performance.