Markets to open lower following global markets

The Indian markets' winning streak came to an end on Friday, September 9, when both the major benchmark indices saw correction. Markets remained in the negative territory throughout the trading session. Nifty managed to close above levels of 8850; whereas BSE Sensex too closed tad below 28800 on September 09.

European markets too closed lower on Friday in the late afternoon trade as investors on Wall Street started dumping stocks as they reacted to less than dovish commentary emerging out of central bankers. All the major European indices closed the day with the cut in the range of 0.83 to 1.19 per cent, with the likes of FTSE 100 and CAC being the biggest losers.

US markets saw heavy selling on Friday, September 09 as investors grappled with the possibility of rate hike in the upcoming Fed meet. Nasdaq Composite, S&P 500 and Dow Jones closed with the cut of 2.54; 2.45 and 2.13 per cent respectively.

Asian markets slipped in early trade on Monday with concerns being raised on the interest rate hike from Fed. Key Asian markets are trading down in the red. Major indices likes Hong Kong’s Hang Seng, Japanese Nikkei 225, Chinese CSI 300 all are in the red with cut of more than 1.50 per cent each.

SGX Nifty is trading with a cut of 1.7 per cent to the levels of 8759. We expect markets to open lower, following other Asian peers.