SGX Nifty Indicates A Flat Start; Wipro, Tech Mahindra In Focus

February 16, 2021 0 By boss

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Good Morning!

Indian equities scaled new peaks on Monday, led by the financials. The Sensex, Nifty 50 and the Nifty Bank hit record highs. Eight of the top 10 Nifty gainers on Monday were financial stocks.

While the Sensex and Nifty have gained 12% so far this month, the Nifty Bank has outperformed the benchmarks, rallying 22% since the Union budget.

Futures, however, are indicating a flat start to Tuesday’s trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 15,342 as of 8:05 a.m.

Nestle India is the last Nifty 50 company to report results on Tuesday, along with Varun Beverages and Schaeffler India.

Asian indices continued to extend their gains this morning. Japanese stocks outperformed, while those in Australia and South Korea saw more modest gains. The U.S. markets were shut overnight but futures on the Dow Jones are trading higher by 250 points.

Yield on the 10-year treasuries jumped to their highest in nearly a year, while oil prices traded around a 13-month high. West Texas Intermediate crude rose 1% to $60.08 per barrel, owing to supply disruptions in Texas.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.

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