SGX Nifty indicates positive opening for Indian markets 29th Jan 2021

SGX Nifty is at 13,958.80 levels, down 87.00 points. (Updated at 7:52 AM)

The Nifty saw weakness for the 5th day running as foreign selling aggravated the expiry of the January series with the index losing nearly 1000 points from last Thursday’s high.

IT, Reliance & PSU stocks led the losers while Axis, ICICI & SBI led the gainers as Bank Nifty managed to close in the green.

For today, expect mid caps to play catch up as markets see rebound with Nifty attempting 14000 & above.

US Market: US markets bounce back after the biggest 3-day decline in over 3 months as jobs data beat estimates.

US$ sees weakness after rallying for the last 3 days as Congress agrees to the provisional passage of the bill for stimulus. Bond yields also see the rise, hitting 1.07%.

Emerging market stocks also bounce back led by Brazilian Bovespa, which rose over 2.5%.

Asian Market: Asian markets opened in the green led by the Japanese Nikkei, which traded higher by 100 points in early trade.

Expect more color as we see more data from the Chinese economy on manufacturing with expectations of MSME outperform.

Chinese stocks have also been hit by the sell off & look set to bounce back leading the Asian markets.