Markets to open lower; all eyes on Fed and Bank of Japan’s policy action

DSIJ Intelligence / 20 Sep 2016

Markets to open lower; all eyes on Fed and Bank of Japan’s policy action

SGX Nifty is trading with losses of 0.23 per cent to the levels of 8804. We expect markets to open lower, following rest of the world markets.

The Indian markets closed the day with some good gains amidst consolidation at these levels. However, there were many stock specific actions on Monday, September 19 session. Nifty successfully managed to close up at important levels of 8800; whereas BSE Sensex also closed above 28600 on September 19. Overall market breadth remained positive.

European markets retorted their losing streak after trading with smart gains on September 19. Markets recovered from their lows in recent weeks. All the major markets witnessed a strong rally by rising in the range of 0.95 to 1.55 per cent.

US markets closed flat in a volatile session ahead of an all-important Fed meet scheduled for Tuesday. All the major benchmark indices closed flat with negative bias on September 19.

Asian markets are trading with mixed signals on Tuesday, September 20, amidst highly anticipated monetary policy meet of Japan and US. Japanese Nikkei and MSCI Asia Pacific index sre trading with gains, whereas Hang Seng, CSI 300 and S&P ASX 200 are trading with losses.

SGX Nifty is trading with losses of 0.23 per cent to the levels of 8804. We expect markets to open lower, following rest of the world markets.

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