SGX Nifty Indicates Losses; Wipro, Heranba, IRCTC In FocusMarch 5, 2021
Indian equities snapped a three-day winning streak on Thursday on account of expiry related volatility and weak global cues.
Selling pressure was seen across the board, barring the media index. India Volatility Index, too, jumped after three days.
So far this week, the Sensex and Nifty have gained more than 3.5%. But futures are pointing to another gap-down opening to Friday’s session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.2% to 14,890 as of 8:15 a.m.
Asian equities have followed their peers on Wall Street lower this morning. Markets across the Asia-Pacific, ranging from Japan to China and South Korea are trading with losses. The U.S. dollar strengthened, while treasuries declined.
Markets had a bout of selling overnight after Fed Chair Jerome Powell fell short of speaking about intervening against the rising bond yields.
Futures on the Dow Jones are down 160 points. The index fell 1.1% overnight.
Oil prices too are trading higher after OPEC+ surprised traders by keeping output levels unchanged, contrary to opinions of increasing supply to the tight market. West Texas Intermediate crude rose 0.3% to $64 per barrel.
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