Markets to open positively on the last trading day of 2016

DSIJ Intelligence / 30 Dec 2016

Markets to open positively on the last trading day of 2016

SGX Nifty is trading with gains of 0.15 per cent to the levels of 8127. We expect markets to open positively on the last trading day of 2016. Markets would also be keeping a close eye on government and RBI for any news pertaining to the demonetisation drive, wherein today is the grand finale of exchange of old notes.

Dalal Street witnessed a lot of volatility on the last F&O expiry day of the year 2016, where the markets ended the dismal series in a positive way as the benchmark indices crawled back in positive territory by the end of the eventful day. The markets closed the day with some good gains towards the later part of the trading session as bourses closed with gains of close to one percentage point. Nifty closed above 8100; whereas Sensex also managed to close above levels of 26350 on Thursday, December 29.

European markets closed the penultimate trading day on a somber note dragged down by European financial companies. For the year, European Stocks have underperformed the other developed markets. However, amidst all this UK’s FTSE closed at record highs driven by firming up of metal prices on December 29.

US stocks fell after opening strongly in Thursday's trading session. Major indices closed lower with minor losses.

Asian stocks are a mixed bag on the last trading day of the year as Japanese markets were trading down, whereas Chinese and MSCI Asia Pacific index are trading with some good gains on Friday, December 30, 2016.

SGX Nifty is trading with gains of 0.15 per cent to the levels of 8127. We expect markets to open positively on the last trading day of 2016. Markets would also be keeping a close eye on government and RBI for any news pertaining to the demonetisation drive, wherein today is the grand finale of exchange of old notes.

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