Markets to open higher; RIL's & Yes Bank's Q2 eyed

DSIJ Intelligence / 20 Oct 2016

Markets to open higher; RIL's & Yes Bank's Q2 eyed

SGX Nifty is trading with gains of 0.37 per cent to the levels of 8690. We expect markets to open in green taking cues from other Asian peers.

Indian markets after rallying in the past two trading sessions took a pause on Wednesday, October 19 amid profit booking in key stocks and volatility ahead of an all-important ECB meet. Market succumbed to losses in the last hour of trade due to profit booking at higher levels. Nifty managed to close tad higher to the levels of 8650; whereas BSE Sensex was not able to hold on to 28000 levels on Wednesday.

European stock markets closed higher in trade on Wednesday, October 19, courtesy better than expected earnings from the companies. All the major indices closed up in the range of 0.15 to 1 per cent with Spanish IBEX and British FTSE being the biggest gainers.

US stocks moved higher in trade given rally in the energy sector on Wednesday. All major benchmark indices gained close to a quarter of per cent in trade on October 19.

Asian shares gained in trade on the back of rally in oil and the last US Presidential debate ahead of November 8 elections. All the Asian markets are trading strong with good gains on Thursday, October 20.

SGX Nifty is trading with gains of 0.37 per cent to the levels of 8690. We expect markets to open in green taking cues from other Asian peers.

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