Markets to open in red; keep an eye on F&O expiry

Indian markets dwindled owing to weak financials posted by third largest private lender, Axis Bank. Bank Nifty remained under pressure on Wednesday for the whole day, October 26. However, there were lot of individual stocks in action. Nifty was able to sustain levels of 8600; whereas Sensex declined by 0.91 per cent to 27836 on Wednesday.

European indices too remained under pressure. England’s FTSE index dropped by 0.85 per cent. CAC 40 and DAX also reduced by 0.14 per cent and 0.44 per cent respectively.

US stocks closed a mixed bag on Wednesday. Dow Jones remained positive while S&P and Nasdaq decreased by 0.17 per cent and 0.63 per cent.

Asian shares lost in trade on Thursday, October 27 following the negative cues from global markets. All major indices are trading in red in early morning session except Nikkei 225, which is trading with a gain of 0.09 per cent.

SGX Nifty is trading with losses of 0.15 per cent to the levels of 8602. We expect markets to open in red following Asian peers. Markets to remain range bound owing to October month’s F&O expiry.