Markets to open flat to positive and maintain consolidation

Indian markets tumbled for the second day in a row, making it appear that investors resisted the appointment of Urjit Patel as the new Governor. Both Nifty and Sensex tumbled but at varied rates of 0.44 per cent and 0.17 per cent respectively. Majorly FMCG sector witnessed a pickup of 0.7 per cent where the majors HUL and ITC gained 2 and 1.3 per cent respectively.
 
US markets remained flat where Dow Jones declined just 0.12 per cent; S&P 500 declined 0.06 per cent, while Nasdaq rose 0.12 per cent. Energy sector plunged amid fall in Oil prices by 3 per cent. Investors are awaiting clarity from FED meet, scheduled later this week.
 
Fall in commodity prices has led to a fall in Metal and Mining stocks, eventually dragging all the major indices to close lower. Whereas Pound has risen against Dollar by 0.41 per cent. FTSE fell 0.44%, the DAX dropped 0.47%, and the CAC-40 lost 0.24%.

Asian markets are trading in the mix with Nikkei and Hang Seng trading lower with marginal losses of 0.25 per cent, where Yen gained against Dollar and investors are awaiting the FED’s next move. On the other hand Shanghai has risen 0.44 per cent. Oil prices have retreated with rising Oil rig in the US and flourishing fuel exports from China. Amongst others Australia’s S&P/ASX 200 is 0.85% up; while New Zealand’s S&P/NZX 50 is absolutely flat. South Korea’s KOSPI is 0.2 per cent up.
 
Markets saw a gradual recovery in the previous session. Markets may open on a flat to positive note amid short covering and tracking positive cues from most Asian bourses. SGX Nifty is trading flat at 8621 levels with a decline of just 6 points. Today we have stocks results like Auro Pharma and Tata Power to watch out for.