Markets may open flat to positive, with stock specific movement later as the earnings season heats up

Indian benchmark indices started the session on a cautious note on Wednesday and traded in a tight range for the most part of the trading session as the mood was cautious ahead of RBI’s monetary policy. Benchmark indices suffered from a set back after the Reserve Bank of India decided to leave the repo rate unchanged. However, the indices recovered from the lows of the day and ended the session near the neutral line. Finally, the NSE’s 50-share broadly followed index Nifty, ended on a flat note with a positive bias, while Bombay Stock Exchange’s Sensitive Index or Sensex lost around forty-five points.

The European markets ended Wednesday's session with mixed results. After a positive performance in the first half of the day, the markets fluctuated in the afternoon. The DAX of Germany dropped 0.05 per cent, but the CAC 40 of France rose 0.26 per cent. The FTSE 100 of the U.K. gained 0.04 per cent.

The Dow Industrials closed lower on Wednesday as financial stocks continued to slide; while the S&P 500 closed fractionally higher and the Nasdaq scored a new record high.  

Asian stocks are trading on a mixed note on Thursday, where Japan’s Nikkei 225 slipped 25 points, while Hang Seng gained 151 points and Shanghai Composite climbed 16 points.  

At 8:07 am, SGX Nifty index gained 19 points to 8,831, indicating a flat to positive start for Indian equities. Companies such as Lupin, Aurobindo Pharma and Steel Authority of India are scheduled to post their quarterly results later in the day.