SGX Nifty swings higher; volatility expected
Indian shares are likely to open in the green, a day following a brutal selloff led by the Chinese market, even as experts warned some volatility is likely to continue both in the near term as well as during the year.
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At the time of writing, the Singapore-based SGX Nifty was trading 23 points, or 0.31 percent, to 7,596, indicating a similar open for the Indian Nifty.
Globally, markets continue to seesaw after Chinese stocks fell 7 percent yesterday, triggering suspension of trade — a move that led to a brutal selloff in world equities. This morning, Chinese equities are again volatile, with the Shanghai Composite opening in the green, swinging into negative and then getting back up.
The volatility has been triggered by weakness in the Chinese yuan, amid some weak macro data emerging out of the world’s second largest economy.