Markets to open higher following global markets

The Indian equity markets closed the day with minor gains after two consecutive sessions of profit booking. However, indices tried to consolidate on Thursday, in the September 15 session. Nifty failed to hold on to the levels of 8750; whereas BSE Sensex closed above 28400 on September 15. Overall market breadth remained positive.

European markets snapped their losing streak after an important piece of economic data emerged out of United States in  late afternoon trade on September 15. All the major markets ended with gains ranging from 0.1 to 0.85 per cent, with FTSE 100 being the biggest gainer after Bank of England maintained status quo in its policy meet.

US markets closed sharply up on the back of tepid series of economic data which defused the rate hike talk as growth remains weak. Major indices like Nasdaq Composite, S&P 500 and Dow Jones Industrials closed with gains of 1.47;1.01 and 0.99 per cent respectively.

Asian markets are trading in green on Friday, September 16 amidst soft economic data from US. All the key Asian markets are trading with good gains except for Chinese CSI 300 INDEX which is down by 0.68 per cent in today’s early trade.

SGX Nifty is trading with gains of 0.47 per cent to the levels of 8818. We expect markets to open higher, following rest of the world markets.