SGX Nifty indicates positive opening for Indian markets Jan 19th

SGX Nifty is at 14,369.50 levels, up 55 points. (Updated at 7:44 AM)

The Nifty saw the much-needed correction extend for another day as the index lost 200 points before closing down 150 with stocks seeing huge selling pressure as the unwinding of future contracts saw mid-caps come under pressure.

Metals, banks & infra stocks lost ground while FMCG & IT were the only winners.

For today expect banks to bounce as short-covering & fresh buying from foreign investors sees the end of the correction.

US Market: US markets closed for a holiday on Monday see futures trade with gains.

All eyes on swearing-in of new President-elect Joe Biden & the follow-through of big-spending boost stimulus is awaited by most market participants.

US$ sees some gains after being oversold while bond yields trade below 1.09% even as gold prices hit 3-month lows.

Asian Market: Asian markets opened with gains as the Japanese ‘Nikkei’ traded higher by over 375 points in early trade.

The systematic start of vaccination in almost all countries is seeing reopening trade of people resuming normal lifestyles in the near future which is boosting stocks.

Chinese stocks had another good day on Monday with the mid-cap indices closing up nearly 1.5%.