Markets to open in green; Q2 & macro-economic data to be eyed

Indian markets witnessed a policy-heavy last week in which the markets swung both ways in a range bound trading week. Going forward markets will look forward to quarterly results and macro-economic data in a truncated week. Benchmark indices came under pressure in the late hour of trade on Friday, October 07. Nifty closed tad below the levels of 8700; whereas BSE Sensex closed near 28000 on Friday.

European stock markets fell on Friday, October 07 except for England’s FTSE which bucked the trend as it was affected by falling pound. Other major indices like Euro Stoxx, DAX and CAC were down more than half a per cent at close.

US stock markets remained in a downward trajectory reacting to jobs data released on Friday as unemployment rate in the economy rose slightly by 0.1 per cent and now stands at 5 per cent. All the benchmark indices closed down in the range of 0.15 to 0.33 per cent.

Asian stock markets are flat with a positive bias on Monday, October 10 as all eyes were glued to the TV sets as second US Presidential debate gets underway. Japanese markets are closed owing to holiday.

SGX Nifty is trading with gains of 0.35 per cent to the levels of 8744. Second quarter result and economic data would be keenly watched in the coming week. We expect markets to open higher and remain range bound for the day tracking other major markets.