Mkt. Updates :
SGX Nifty -72 pts (16950) from last trade 17022 ,
Nikkei -215 pts ,
Hangseng -157 pts ,
Now @7.02am .
US GOVT. 10-YEAR YIELD : 1.39%
US stocks dropped again in Friday's volatile session. Worries about tighter monetary policy and the ongoing pandemic lead to a losing week for the major averages. Dow Jones dropped 1.48%, S&P 500 fell 1.03%, tech-heavy Nasdaq ended the session flat.The small cap Russell 2000 outperformed the pack with gains of near 1%.
US dollar index moved sharply higher near 96.67, 10 year traded near 1.40%. Cboe vix closed above 21.50
Crude futures traded near flat zone, Brent trades below 73, WTI near 70.
Weak global sentiments, hawkish stance of major international central banks amid surging Omicron cases, the Bank of England move to hike rates, continued FII selling, took Indian indices lower for yet another day. Both Sensex and Nifty closed the day with a cut of near 1.53%. Most sectors barring IT (Accenture guidance saved the sector) saw selling pressure on Friday.
For the week watch out for some stabilization near 17000 mark. Traders may wait for some clear signs of reversal and year-end rally before committing additional money into the markets.
By: via @AlliesFin Serve Stock Market
