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SGX Nifty indicates a negative opening for Indian markets

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SGX Nifty is at 10,999, marginally down by 8.5 points.

Nifty saw another weak day as the expiry of derivative contracts saw Nifty close near 10,950 as foreign selling continued unabated in August. Banks were the main culprits along with bellwether Reliance, which cracked 2%. Pharma, metals and IT stocks saw buying, while the broader markets also lagged as rollovers added to the volatility. Expect September to bode well for the markets as macros see better elevation with consumption demand lifting as holidays and Government initiatives kick in.

US Market: Dow Jones rises another 300 points as US indices ended near day's high. Oil sees a further uptick as supply concerns see a rise in prices. President Trump again reignites meeting on trade talks with China which globally sees bears run for cover. Bond yields also rise marginally as growth revival talks back on track.

Global Market: Asian stocks saw a positive Friday start with the Japanese Nikkei up nearly 200 points in early trade as positive US and European cues saw green in the Asian markets. Expect Chinese indices to follow suit as financials and banks lead the rally for today. The unrest in Hong Kong has seen institutional money exit and re-enter other markets like South Korea and Singapore as prolonged conflict hurts the economy.

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