Markets to open in red; all eyes on TCS Q2 results

Indian markets witnessed low volumes and far less activity on the first trading day of the week due to Navratri festival. Benchmark indices remained in a narrow range on Monday, October 10. Nifty just managed to close above the levels of 8700; whereas BSE Sensex closed above 28000 on Monday.

European stock markets declined on Wednesday, October 12. Europe witnessed all the major indices correct in trade by 0.1 to 0.66 per cent with British FTSE and German DAX leading the losers list on Wednesday.

US stock markets remained flat to positive, as investors digested FOMCs minutes of meeting where Fed officials were in favour of increasing interest rates so as to protect the economy form any recession. Benchmark indices saw little reaction and remained flat with a positive bias.

Asian stock markets touched their three-week low as markets remained uncertain of a possible December rate hike. All the main markets like Japanese Nikkei, Chinese CSI 300, Australian ASX 200 are down with losses in excess of quarter of percentage on Thursday, October 13.

SGX Nifty is trading with losses of 0.47 per cent to the levels of 8663. We expect markets to open lower owing to global equity market weakness. However, stock specific action will be seen, courtesy earnings surprises.