Markets may open flat to negative attributed to primarily negative global sentiments over a likely Fed rate hike
Chirag Gothi / 07 Mar 2017
At 8:06 am, SGX Nifty index was trading flat with single digit loss at 8976, indicating a flat to negative start for Indian equities.
Indian benchmark indices got off to a firm start, and showed strength in the morning session. However, profit booking was witnessed on back of weak opening of European markets in the noon session, but later on indices regained strength and finished the day near intraday highs. To end with, the NSE’s 50-share broadly followed index, Nifty, surged by over half a per cent to settle above the crucial 8950 level; while Bombay Stock Exchange’s Sensitive Index-Sensex gained over two hundred points and closed above the psychological 29000 mark.
The European markets ended the first trading session of the new week in negative territory. The weak performance of the banking stocks weighed on the markets. Banking stocks tumbled on the news that Deutsche Bank plans to raise capital through a share sale. The DAX of Germany dropped 0.57 per cent, but the CAC 40 of France fell 0.46 per cent. The FTSE 100 of the U.K. declined 0.33 per cent.
U.S. stocks slipped on Monday as investors remained cautious ahead of the Federal Reserve’s monetary policy meeting next week, as there are chances of an interest rate hike. The Dow Jones Industrial Average shed 49 points to end at 20956 levels. The S&P 500 fell 7 points to close at 2375. The Nasdaq Composite index dropped 21 points to finish at 5849.
Asian markets are trading mixed on Tuesday. Japan’s Nikkei 225 lost 0.17 per cent. On the other hand, Hong Kong’s Hang Seng gained 0.27 per cent and Shanghai Composite gained 0.02 per cent.
At 8:06 am, SGX Nifty index was trading flat with single digit loss at 8976, indicating a flat to negative start for Indian equities.
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