Markets to open in green, tracking global cues

Indian markets witnessed another bout of heavy selling pressure after  last week's fall due to uncertain global cues and nervousness surrounding the upcoming earnings season. Benchmark indices closed in red after a volatile day of trade on Monday, October 17. Nifty closed sharply down to the levels of 8520; whereas BSE Sensex closed near 27500 on Monday.

European stock markets closed lower in trade on Monday, October 17, courtesy weak growth of corporate business of individual companies,  weighing higher on the index. All the major indices closed down in the range of half to one per cent with British FTSE being the biggest loser.

US stocks closed lower on Monday, amid falling oil prices, as investors digested a number of corporate results and key economic data. Major benchmark indices closed down by quarter of a per cent in trade on October 17.

Asian stock markets are up in trade as oil prices rebounded from lows and US dollar consolidated recent gains. Most of the Asian indices are trading with gains ranging from 0.25 to 1 per cent on Tuesday, October 18, 2016.

SGX Nifty is trading with gains of 0.34 per cent to the levels of 8561. We expect markets to open in green and remain range bound throughout the day. However, result and news specific action is likely to be witnessed in individual stocks.