SGX Nifty indicates positive opening for Indian markets - 24rd feb 2021

For today, expect another volatile session with derivative contracts expiry tomorrow even as local funds turn buyers.

February 24, 2021 7:38 IST

SGX Nifty is at 14,841.20 levels, up 66.20 points. (Updated at 7:38 AM)

The Nifty saw a very volatile session with the index swinging over 200 points intra day before closing higher by 32 points.

Bank Nifty ended the day in the red losing 140 points as Kotak & HDFC Bank dragged the index lower even as PSU banks saw a smart comeback.

Mid-caps were again more in demand as foreign investors sold large-cap stocks to raise cash.

For today, expect another volatile session with derivative contracts expiry tomorrow even as local funds turn buyers.

US Market: US markets see a big recovery from lows as Dow Jones recovers from down 390 points to close in the green while Nasdaq recovers over 400 points from lows to close down 65 points.

Federal Chairman Powell reiterates no change in easy money policy till the economy stabilizes & markets react on the way up with yields softening to close @ 1.34 after hitting 1.37%.

Asian Market: Asian markets opened mixed with the Japanese Nikkei trading in the red after being closed for a holiday on Tuesday.

Markets in Asia will see more color after Chinese data on exports is released as expectations are that Covid related material supply could be better than expected.

Weaker US$ bodes well for most Asian indices ex-Japan as ETF flows benefit with risk spread outside the US.