SGX Nifty indicates positive opening for Indian markets

For today expect more color on short-covering as global cues see 15000 being crossed with derivative expiry today seeing call writers run for cover.

February 25, 2021 7:50 IST

SGX Nifty is at 15,102.20 levels, up 53.00 points. (Updated at 7:52 AM)

The Nifty saw a superb rally in the last extended hour of trade after the whole mid-session got washed out due to technical error in NSE.

Banks led the short-covering rally as the Bank Nifty rose almost 4% with large banks like SBI, HDFC & ICICI leading the gainers.

Nifty crossed the 15000 mark intraday before closing just below it.

For today expect more color on short-covering as global cues see 15000 being crossed with derivative expiry today seeing call writers run for cover.

US Market: US markets see a huge rally in Dow Jones which closes at fresh new all-time highs as industrial stocks drive the gains.

Dow Jones closes higher by over 420 points while Nasdaq ends higher by 130 points.

Bond yields hit fresh new one year highs at 1.39%, while oil prices also see new highs on supply concerns.

Risk on the rally is back as ‘Gamestop’ jumps over 90% in a single session.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which regained yesterday’s losses as US cues saw a huge rally in early trade.

The Asian markets sell-off saw a smart rally today in early trade as most indices recovered most losses even as China trading gets underway.

Technology stocks could see some smart money buying as demand for digital gets more widespread even as the cost of work from home sees IT outsourcing gather momentum.