Markets to open flat with positive bias; Infosys Q2 results eyed

Indian markets witnessed a sharp fall due to global factors and weak economic data emerging out of the domestic economy. News of tension rising between Russia and the US also added to the already sombre mood on Dalal Street. Both the benchmark indices cracked more than 1.5 per cent in trade on Thursday, October 13. Nifty somehow managed to close above 8555; whereas BSE Sensex closed above 27600 on Thursday.

European stock markets also saw a similar trend as all the major bourses were down from 0.5 to 1.1. per cent on Thursday, October 13. The fall was aggravated mainly by weak Chinese export numbers and uncertainty regarding the US Fed rates.

US stock markets finished the day in red on Thursday as investors grew jittery following weak Chinese data and interest hike concerns. Indices closed in the range of quarter to half a per cent.

Asian stock markets witnessed mixed reaction after a sharp sell off on Thursday. Markets were trading with minor gains on Friday, October 14 except for Chinese CSI 300 index and broad market Asia Pacific MSCI index which were slightly down.

SGX Nifty is trading with gains of 0.13 per cent to the levels of 8587. We expect markets to open flat with a positive bias after a big sell in global equity market. However, stock specific action will be seen courtesy earnings surprises.