SGX Nifty indicates positive opening for Indian markets today 13th Jan

SGX Nifty indicates positive opening for Indian markets

SGX Nifty is at 14,637.80 levels, up 49.05 points. (Updated at 7:48 AM)

The Nifty saw another superb day with the index hitting 14600 as Reliance, HDFC Bank & SBI saw buying support.

IT, pharma & industrials saw profit booking even as auto stocks led the gainers.

For today, expect some consolidation as foreign buying sees slight slow down with higher valuations seeing profit booking.

US Market: US markets end the session with gains even as bond yields hit year highs climbing to 1.17%.

US$ sees weakness after 2 days of gains as it slowly crawls up from heavily oversold territory.

Transport stocks & Russell 2000 hit fresh record highs as market chases high beta with a fresh bout of bullishness seeing mid caps gain.

Asian Market: Asian markets opened flat as markets digested the gains for the month with most awaiting the flow of money as President elect Biden prepares stimulus.

Most Asian economies are seeing better traction on economic recovery as the 2nd wave impact of Covid sees less affliction.

Chinese data for exports was stronger than expected which saw mid caps again spring into action.