SGX Nifty is at 10,994, up by 2 points. For today, expect a quiet start to see second-half buying emerge as foreign investors turn buyers with the rupee getting stronger and global liquidity seeing strength inequities.
The Nifty succumbed to profit-booking on the 6th day of gains as Reliance & TCS led the losers, with auto, banks, & FMCG getting hit majorly. Midcaps saw marginal gains on rising mutual fund interest as cherry-picking saw select counters outperform.
Global markets: US stocks closed with gains even as the last hour saw profit booking, with Dow Jones flirting within 100 points of fresh all-time highs. Oil prices hit 2-month lows on Iran sanction relief, improved geopolitical scenario, and higher US inventories. Mario Draghi resumed bond-buying with rates being cut to negative 0.5%.
Asian stocks opened in the green led by the Japanese Nikkei as equities regained momentum with liquidity set to return big time as ECB resumes bond-buying amidst cutting deposit rates to negative 0.5%. The Japanese index is having its best run of the month as value buying coupled with short covering drives the index higher for the 5th day running.
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