Markets to open flat with positive bias
DSIJ Intelligence / 17 Nov 2016
SGX Nifty is trading with gains of 0.41 per cent to the levels of 8135. We expect markets to open flat with a positive bias after heavy selling in the previous sessions.
Indian equity markets had a rollercoaster ride on Wednesday as markets swayed on either side of 8100 on an extremely volatile trading day before closing the day with negligible gains on Wednesday, November 16. Selected NBFCs again came in for a beating, post demonetisation drive by the government. Nifty managed to close above the levels of 8100; whereas Sensex closed below 26300 on Wednesday, November 16.
European stocks came in for profit booking on Wednesday from higher levels. All the major benchmark indices closed in red with losses of over half a percentage point.
US stocks snapped their winning streak led by financials which came in for profit booking in trade. All the indices except Nasdaq Composite closed down by around quarter of a per cent on Wednesday, November 16.
Asian shares were trading flat with negative bias at the time of writing this report. All the major markets in the region were trading flat to negative except for MSCI Asia Pacific Index which was positive, close to quarter of a per cent on Thursday, November 17, 2016.
SGX Nifty is trading with gains of 0.41 per cent to the levels of 8135. We expect markets to open flat with a positive bias after heavy selling in the previous sessions.
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