Markets to open lower; geopolitical tensions to be closely monitored

The Indian markets plunged into a free fall owing to news regarding Indian Armed Forces carrying out ‘surgical’ strikes across the border the night before. Reacting to these developments markets nose dived more than 1.75 per cent intra-day on Thursday, September 29. Fall was also aggravated due to F&O expiry. Nifty closed down, to the levels of 8600; whereas BSE Sensex closed below 27900 on September 29. Overall market breadth remained positive. The markets posted their highest ever cash market volume at Rs 11.5 lakh crore.

European markets ended the trading session on a flat note with a positive bias before opening strongly in early trade on September 29. All the major share markets in the region closed with gains of over quarter per cent except DAX.

US stock markets closed sharply lower in the later part of trade as all the major indices closed the day in red with Dow Jones being the biggest loser followed by S&P 500 and Nasdaq.

Asian markets following their global peers opened in red as all the major markets saw another bout of selling pressure emerging on Friday, September 30. Pressure was felt across the board.

SGX Nifty is trading with losses of 0.60 per cent to the levels of 8592. We expect markets to open lower amidst higher tension between India and Pakistan. Investors are advised to stay calm and look for opportunities.