Market stares at lower opening amid weak global cues

The Indian benchmark indices closed higher for the second day in a row, however, the gains remained capped as indices pared the intraday gains quite swiftly in the last half an hour of trade tracking sudden fall in global markets and European markets. The BSE Sensex gained 124 points to 31,369, while the CNX Nifty was up by 37 points to 9,675.

European markets closed lower on Thursday. The DAX of Germany dropped 0.58 percent and the CAC 40 of France fell 0.53 percent. The FTSE 100 of the U.K. declined 0.41 percent

U.S. stocks saw significant weakness during trading on Thursday. The Nasdaq and the S&P 500 fell to their lowest closing levels in over a month. The weakness on Wall Street came after the announcement of a report from payroll processor ADP displaying weaker than expected private sector job growth in the month of June. The Dow Jones Industrial Average slid 158 to 21,320. The Nasdaq Composite tumbled 61 points to close at 6,089. The S&P 500 fell 23 points to finish at 2,410.

Asian bourses witnessed a shaky start on Friday following overnight sell-off in the U.S. markets. Japan’s Nikkei 225 has slipped 28 points to 19,966; Hong Kong index Hang Seng has tumbled 112 points to 25,352 and China’s Shanghai Composite has plunged 15 points to 3,197.

Indian markets may open weak on Friday after underwhelming overnight moves in the U.S. markets and negative sentiments prevailing in Asian bourses. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty may open with a loss of 22 points at the opening bell.