Indian markets may open flat to positive, and lately reactive of SBI results

After hitting an all-time high for straight two sessions, Indian markets directly opened with a gap-down taking weak cues from global markets. US turmoil and thereby overall fall in Dollar and global equities led to a fall in the domestic markets. Nifty and Sensex closed at 9429 and 30435, tumbling 1% and 0.7% respectively.

Realty and Cement stocks remained the biggest spoilsports while IT was the only sector that traded against the markets and closed 1% up. This was driven by major weights Wipro and TCS closing 2.8% up each. Market bias remained highly negative with just 665 advances and 2077 declines on BSE.

The European markets ended Thursday’s session on a lower note on uncertainty over US politics. The U.K.'s FTSE 100 Index was down with 0.89 per cent losses, the German DAX Index fell marginally with 0.33 per cent losses and the French CAC 40 remained flat.

However, US stocks recovered from their biggest single-day fall in 2017 and Dollar steadied. The Nasdaq surged 0.7% gaining 44 points at 6055, S&P 500 recovered 0.37% at 2366 and Dow Jones Industrial Average also closed with 0.27% gains at 20663 levels.

Asian markets are mixed followed by recovery in US markets but turmoil in the Brazil. Japan’s Nikkei 225 is marginally down with 0.18% losses at 19519.  Hong Kong’s Hang Seng is slightly up with 0.22% gains and China’s Shanghai Composite is flat for now.
 
At 8:11 am SGX Nifty Index trading up with gains of 25 points at 9,459, indicating some optimism in the Indian markets. GST council meet just announced tax rates for various items under GST basket where most items are falling under 18% rate. This would make most essentials relatively cheaper for the ultimate consumers. Moreover, we have SBI and Tata Power results which may also decide the fate of the markets in today’s session.