SgxNifty Futures Update : 04 Jan 2023

The  SgxNifty Future is trading at 18,170.5 with a loss of -0.74% or -135.5 point. The Nikkei 225 Future is trading at 25,728.0 with a loss of -0.26% percent or -67.0 point.The Hang Seng Future is trading at 20,673.0 up with  +1.68% percent or +342.5 point.



“A significant recent market trend is the disconnect between US and Indian markets. On many days the Indian market has closed positively after negative closing in US markets. The fundamental reason for this disconnect is the resilience of the Indian economy even in the context of a sharp slowdown in global growth expected this year. This disconnect is likely to continue since data indicates continuation of the Indian economy’s outperformance,” says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “Latest data on credit growth from HDFC and IndusInd bank is impressive and augurs well for banking stocks. The data of air travel reaching pre-Covid levels indicates robust economic activity. The decline in US 10-year bond yield to 3.75 % and Brent declining to $82 are positives for India. India’s outperformance in the economy and markets is set to continue, but concerns of US recession and high valuations will put a cap on the upside.”


For the day the  nifty closed at 18,159.00 with a loss of -0.40% percent or −78.25 point.Nikkei 225 is trading at 25,759.93 with 1.28 percent or  −334.57 point. Hong Kong’s Hang Seng is trading at 20,581.18 up with +2.16% or +435.89 point.



For the day the Dow is trading at 33,136.37 with a loss of –0.033% percent or −10.88 point. The S&P 500 is trading at 3,824.14 with a loss of –0.40% percent or −15.36  point. The Nasdaq Composite is trading at 10,386.98 with a loss of –0.76% percent or −79.50 point.

In other parts of world, Japan’s Nikkei 225 is trading at 25,758.52 with a loss of –1.29%  percent or −335.98 point. Hong Kong’s Hang Seng is trading at 20,545.28 up with +1.99% ercent or +399.99  point. China’s Shanghai Composite is trading at 3,113.94 with 0.082% percent or −2.57 point. India’s BSE Sensex is trading at 60,941.71 with a loss of –0.58% percent or −352.49point at 12:15 PM.