Markets to open lower owing to global cues

The Indian markets saw some profit being taken off the table after a week of monetary policy actions. Nifty failed to hold on to the levels of 8850; whereas BSE Sensex too closed below 28700 on September 23.

European markets closed considerably lower from their two week highs that were touched in the last few trading sessions. All the major indices closed with a cut in the range of 0.10 per cent to 1.25 per cent with IBEX and Euro Stoxx being the biggest losers on September 23.

US markets closed the session with losses. However, the benchmark indices for the week closed with good gains. Dow Jones was the biggest drag followed by Nasdaq Composite and S&P 500, which ended the day in red by more than half a per cent.

Asian markets started the week on a negative footing opening down on Monday, September 26, courtesy a weak closing of global markets.  Asian markets have turned their attention to US presidential elections with the first of many debates to take place on Monday, September 26, 2016. All the key Asian markets are trading in red down in the range of 0.21 per cent to 0.85 per cent.

SGX Nifty is trading down by 0.46 per cent to the levels of 8793. We expect markets to open lower, tracking Asian peers.