Expect a weak opening on negative global cues

Indian equities indices fell to a three-week low on Thursday, as investors are cautious ahead of the upcoming fourth quarter earnings amid mixed global cues. The Sensex tanked 215.21 points or 0.86% to 24685.42; and the Nifty declined 67.90 points or 0.89% to 7546.45. The broader markets were also under pressure with the BSE Midcap and Smallcap indices falling over 0.4% each. On sectoral front, Consumer Durables index was biggest loser falling 2.03% followed by capital goods at 1.18%.

U.S. stocks closed lower on Thursday as oil resumes its fall and investors brace for next week's start to the first-quarter earnings season, which is not expected to be strong. The Dow Jones industrial average fell 174.09 points or 1% to 17,541.96. The S&P 500 index shed 24.75 points, or 1.2% to 2,041.91. The Nasdaq composite index lost 72.35 points, or 1.5% to 4,848.37.

European equities closed in the red on Thursday, as investors digested the latest set of news from the European Central Bank and as faltering oil prices weighed on trading sentiment. The broad Europe Stoxx 600 was off 0.9%, the FTSE 100 closed 0.40% lower, the DAX was down by 0.98% and the CAC-40 was 0.90% lower. Brent crude fell 41 cents, or 1%, to settle at USD 39.43 a barrel and WTI fell 49 cents, or 1.3%, to USD 37.26 a barrel.

Asian stock markets opened lower on Friday morning after bank shares slumped globally amid renewed concerns over global growth and the effectiveness of Central Bank policy. Japan’s NIKKEI 225 index lost 0.56% and South Korea’s Kospi index fell 0.7%. Australia’s S&P/ASX 200 Index slid 0.53% and New Zealand’s S&P/NZX 50 Index retreated 0.46%. Chinese markets also lost ground, with the Shanghai composite trading lower by 0.90%.

On domestic front, A SGX Nifty 50 index future for April series traded flatly. Indian markets are likely to open in the flat to negative.