Markets to open flat; HCL Tech & Wipro Q2 eyed
DSIJ Intelligence / 21 Oct 2016
SGX Nifty is trading flat at the levels of 8701. We expect markets to open flat with positive bias.
Indian markets got back to their winning momentum on a good day which was supported by good set of earnings from the corporates. Markets remained in a tight range throughout the day before initially touching day high on Thursday, October 20. Nifty managed to close at the levels of 8700; whereas BSE Sensex was also able to climb above the important 28000 levels on Thursday.
European share markets had a fairly strong day as European markets touched a two-week high amidst weak euro and good earnings reported by banks on Thursday, October 20. All the major indices closed up in the range of 0.1 to 1.2 per cent with Spanish IBEX being the biggest gainer.
US stocks moved lower in trade given a sharp decline in oil, and pressure in telecommunication sector on Thursday. All major benchmark indices closed with minor losses on October 20.
Asian shares displayed a mix trend as oil plummets down and dollar remained at a seven-month high. All the Asian markets are trading with small gains on Thursday, October 20.
SGX Nifty is trading flat at the levels of 8701. We expect markets to open flat with positive bias.
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