Markets to open higher duplicating positive global markets

The Indian markets witnessed some smart recovery from the lowest point of the day to post good returns on a daily basis on Wednesday, September 28. Markets saw short covering during the session, ahead of an important expiry session on Thursday. Nifty closed a shade below to the levels of 8750; whereas BSE Sensex closed below 28300 on September 28. Overall market breadth remained positive.

European markets gained on September 28 owing to recovery in commodity prices and reclamation in the Deutsche Bank shares, which had hit an all time low in the past few days. All the major share markets in the region closed with gains over half a per cent.

US stock market swung higher in trade after an important OPEC meet, where the body decided to cut oil production. Major indices like Nasdaq Composite, S&P 500 and Dow Jones closed the day with gains of 0.24;0.53 and 0.61 per cent respectively.

Asian markets cheered the news of OPEC oil cut production agreement which has led all the Asian stock markets to trade with handsome gains on Thursday, September 29. All the indices are trading in the positive territory except MSCI Asia Pacific index. Whereas Japanese Nikkei was the biggest gainer amongst the Asian peers.

SGX Nifty is trading with gains of 0.51 per cent to the levels of 8800. We expect markets to open higher, following rest of the global markets.