Market Likely To Open Flat To Negative

Indian stock markets finished lower for the fourth straight session as F&O expiry added pressure on indices. Concerns that likely Fed rate hike in December would see outflows from emerging markets, too dampened sentiments. The Sensex closed 202 points lower to end 26,838 and the Nifty slipped 59 points to end at 8,112 levels. In the broader market, BSE Midcap and Smallcap indices lost 0.4% each.

The rupee has depreciated by 23 paise to 65.14 against the US dollar on strong demand for the US currency from importers after the US Federal Reserve indicated it may hike interest rates in December.

U.S. stocks closed lower Thursday, succumbing to weaker-than-expected readings on GDP and pending home sales a day after the Federal Reserve signaled a December rate increase remains possible. The S&P 500 finished basically flat, or less than 0.1% lower, at 2,089.41. The Dow Jones Industrial Average declined 23.72 points, or 0.1%, to finish at 17,755.80, while the Nasdaq Composite lost 21.42 points, or 0.4%, to close at 5,074.27. In economic news, third-quarter GDP showed an annual rate of 1.5%, slightly missing expectations and below the second-quarter's 3.9%. Weekly jobless claims edged higher to 260,000.

European stocks on Thursday finished lower as Deutsche Bank AG and Barclays PLC came under scrutiny in the wake of lackluster financial updates. The Stoxx Europe 600 ended down less than 1 point at 375.70. Germany’s DAX 30 closed down 0.3% at 10,800.84. Meanwhile, France’s CAC 40 declined 0.1% to 4,855.82. In London, the FTSE 100 fell 0.7% to 6,395.80

Asian shares posted a lackluster open on Friday, ahead of the Bank of Japan's (BOJ) monetary policy decision. Japan’s Topix index and the Kospi index in Seoul swung between gains and losses. The S&P/ASX 200 Index lost 0.63% in Sydney, falling for a fifth straight day to be down 2.4% this week following an uninspiring handover from offshore markets. New Zealand’s S&P/NZX 50 Index slipped 0.54% from a record. China's benchmark Shanghai Composite index ticked down 0.62%.

A SGX CNX Nifty Index future for November delivery was marginally down 0.50 points at 8,133. Indian market is likely to open flat to negative.