Markets to open in red, tracking global markets

The Indian markets saw heavy profit booking as global factors played a spoil sport. Nifty closed below the levels of 8725; whereas BSE Sensex closed below 28300 on September 26.

European markets saw big cuts on Monday led by banking major Deutsche Bank which hit a new low in trades. All the major indices closed with a cut in the range of 1.3 per cent to 2.2 per cent with German DAX and Euro Stoxx being the biggest losers in trade on September 26.

US stocks extended losses on Monday as worries about Deutsche Bank weighed on the financial sector while the upcoming U.S. presidential debate also contributed to the over all jittery sentiment. Dow Jones and Nasdaq Composite were the biggest drag.

Asian markets continued from where they had left in the previous trading sessions where all the major indices were trending downward for the day. However, many major markets have recovered from their day's low on Tuesday, September 27, courtesy US presidential debate. All the key Asian markets are trading in red, down 0.2 to 0.8 per cent, except for Japanese markets which are trading in the positive territory.

SGX Nifty is trading down by 0.22 per cent to the levels of 8717. We expect markets to open lower, following global trends.