Markets to open flat with negative bias
DSIJ Intelligence / 18 Nov 2016
SGX Nifty is trading with losses of 0.17 per cent to the levels of 8080. We expect markets to open flat with a negative bias and they may even touch levels below 8050.
There was no respite for the Indian equity markets as markets witnessed a sell on rally. Every up move in Thursday's trading session was sold into by the bears as the markets closed below 8100 for the first time since June 27, 2016. Nifty closed below an important support of 8100; whereas Sensex closed below 26250 on Thursday, November 17.
European shares after a small breather in the previous session continued their good run. However, Italian markets were jittery ahead of next month’s constitutional reform referendum.
US stocks continued with one of their best runs in recent history by getting closer to all-time highs. Playing catch up to the Dow Jones Industrial average, Nasdaq Composite outperformed the other indices by miles on Thursday, November 17.
Asian shares gained in trade owing to soaring USD against the basket of currencies. All the major indices like Nikkei, Hang Seng and CSI 300 are trading with gains on Friday, November 18, 2016.
SGX Nifty is trading with losses of 0.17 per cent to the levels of 8080. We expect markets to open flat with a negative bias and they may even touch levels below 8050.
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