Markets may open flat to negative demoralised by subdued global cues

Indian benchmark indices got off to a firm start and moved higher thereafter. However, indices witnessed a sharp selloff, which dragged them to the day’s low point. Towards the end, the NSE’s 50-share broadly followed index Nifty, took a cut of over half a per cent to settle below the crucial 8,900 support level; while Bombay Stock Exchange’s Sensitive index, Sensex slipped by around one fifty points and closed below the psychological 28,850 mark.

The European markets remained locked in a tight range throughout Thursday’s session. The markets fluctuated between small gains and losses throughout the session, and finished with mixed results. The DAX of Germany dropped 0.06 per cent, but the CAC 40 of France rose 0.06 per cent. The FTSE 100 of the U.K. declined 0.01 per cent.
 
U.S. stocks ended Thursday’s session lower, as the Dow shed more than 100 points to finish barely above the 21,000 mark, as weak financial stocks dragged down the market. The Dow Jones Industrial Average shed 0.5 per cent; the S&P 500 slid 0.6 per cent; and the Nasdaq Composite index lost 0.7 per cent.

Asian stocks are trading lower on Friday. Japan’s Nikkei 225 lost 0.14 per cent; Hong Kong’s Hang Seng slipped 0.56 per cent; and Shanghai Composite slid 0.49 per cent.

At 8:15 am, SGX Nifty index was trading lower by 28.50 points at 8892.5, indicating a negative start for Indian equities.