For today, expect Chinese stocks also to see a strong rebound as factory data due today could see sharper than expected growth.
SGX Nifty is at 14,739.20 levels, up 109.75 points. (Updated at 7:36 AM)
The Nifty saw its biggest fall in over 4 months as it cracked under the dual weight of heavy foreign selling coupled with rising yields both globally & locally.
Nifty fell over 568 points or nearly 4% while the Bank Nifty fell over 1750 points of nearly 5%.
There was no place to hide as large caps saw huge ETF sell-off.
The positive however was the outperformance of the PSU basket with mid-caps showing superb resilience.
US Market: US markets end mixed on Friday as Dow Jones closed lower by another 400 points while Nasdaq closes in the green, up 0.5%.
Bond yields fall as profit booking sees yields cool off after a big run-up last week.
US House passes US$ 1.9 trillion stimuli which sees futures trade higher even as higher volatility can be expected as markets in correction mode.
Asian Market : Asian markets opened in the green led by the Japanese Nikkei, which traded higher by over 2% after Friday’s massive sell off.
The other markets also traded higher with the Hong Kong market index seeing huge changes as they adjust to more market adjusted returns with changes in composition of the Hang Seng index.
For today, expect Chinese stocks also to see strong rebound as factory data due today could see sharper than expected growth.