SGX Nifty indicates positive opening for Indian markets 3rd feb 2021

SGX Nifty is at 14,782.20 levels, up 43.50 points. (Updated at 7:46 AM)

The Nifty saw another blockbuster day with bank Nifty leading from the front & ending higher @ fresh new all-time highs.

Large-cap banks like HDFC, Kotak & HDFC Bank saw huge buying interest as foreign investors were back with a bang.

Broader markets also saw gains as markets in ‘risk-on’ trade with industrials leading the rally.

US Market: US markets see another big gains day with Dow Jones closing higher by 475 points while Nasdaq ending higher by over 1.5%.

Bond yields rise to over 1.12%, the highest in over 10 months while oil sees smart rally.

Game Stop sees huge sell-off with shorts covering positions as markets ground back to reality.

Asian Market: Asian markets saw gains in early trade as bull markets resumed uptick with Japanese Nikkei clocking gains of over 250 points in early trade.

US$ sees weakness which will bode well for emerging markets with most Asian markets seeing positive inflows.

Expect further gains on currency, bonds & stocks with Chinese data being key for industries.