Markets to open down, following global trends

The Indian markets faced the brunt of global weakness when it plunged by more than 1.5 per cent on Monday, September 12, when both the major benchmark indices saw heavy profit booking. Nifty managed to close above levels of 8700; whereas BSE Sensex too closed tad above 28350 on September 12.

European markets declined for the fourth day in a row on September 13, with all the major European bourses closing down with heavy losses. Prominent markets like IBEX, Euro Stoxx Pr, CAC, FTSE 100, DAX, etc closed down by 1.61; 1.26; 1.19,0.53; 0.43 respectively.

US markets saw sharp selling pressure in Tuesday’s session of September 13, as investors grappled with the possibility of a rate hike in next week's Fed meet. S&P 500, Dow Jones and Nasdaq Composite closed with sharp cuts in the range of 1.1 per cent to 1.5 per cent each.

Asian markets hovered around their six week lows, courtesy fall in oil prices and uncertainty surrounding the Fed move in its upcoming meet scheduled for next week. Key Asian markets are trading down in the red except Hong Kong’s Hang Seng. Whereas Japanese Nikkei 225, Chinese CSI 300 and Shanghai Composite all are in the red with minor cuts.

SGX Nifty is trading with losses of 0.3 per cent to the levels of 8750. We expect markets to open lower, following the global trend.