Favorable opening of Indian markets; Global references mixed

The SGX Nifty is at 15,768.80, up 74.80 points.

The Nifty had a weak session the day before the derivation of contracts expired, with foreign investors booking profits and expiring between 15,700-15,800.

As investors see more traction in smaller and midcap stocks, midcap gains are expected.

More volatility is expected today as markets are being built for the highest expiration of derivative contracts.

US Stock Market:
The last 15 minutes saw the Dow Jones fall 70 points as US stocks closed mixed, while the Nasdaq rose to a new all-time high.

Bond yields will be 1.48%, while US $ will be weaker.

Buying the bond earlier than expected has kept markets quiet as they think the Federal Reserve is talking harmless and acting faster than expected.

Asian Stock Market:
Asian markets opened on a bearish note as US markets closed flat at market prices earlier in the day than the Federal Reserve was expected to buy.

Japanese Nikkei flat, technology stocks see positive performance in South Korea and Taiwan.

The listed Chinese stocks saw high buying activity in the Hong Kong market yesterday.

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