Markets to open flat to positive but remain subdued

Indian markets witnessed profit booking at 52 week highs after Governor, Raghuram Rajan kept the rates unchanged in his last policy. Markets slightly recovered in the afternoon session to ultimately end in consolidation on a daily basis. Now investors await the triggers driven by progress in GST.

US markets closed higher where Nasdaq has posted a new record high. S&P 500 and Dow too traded higher but eased after retailers witnessed a decline in stocks. Dow and S&P 500 closed flat; while Nasdaq closed marginally higher by 0.24 per cent at 5225 levels.

Europe closed on a positive note buoyed by the better than expected corporate earnings data. DAX jumped 2.5 per cent and CAC40 too closed positive with 1.2 per cent gains. Moreover, FTSE100 surged 0.62 per cent.

Asian markets are a mixed bag where the investors' sentiments are being mostly driven by the falling Oil prices and markets await the Chinese inflation data to be released sometime during the week. Japan’s Nikkei 225 is marginally down by 0.36 per cent. On the contrary Hang Seng is trading higher with 0.67 per cent gains. China’s Shanghai Composite remains flat for now. Australia’s S&P/ASX 200 Index is down with 0.4 per cent losses. New Zealand’s S&P/NZX 50 is 0.25 per cent down. South Korea’s KOSPI is flat.

Considering the slight recovery in the afternoon session, markets may continue and open on a flat to positive note but may remain subdued with no major trigger to drive. SGX Nifty is trading flat to positive at 8720 levels. We have a huge list of earnings' results today and hence we may see stock specific volatility.