Indian Markets likely to start august F&O series on negative note

The Key indices had opened the session higher and traded with solid gains till afternoon trade on Thursday, both the Sensex, and the Nifty had hit record high, however, indices erased all the intraday gains as selling pressured emerged in the  second half of trading session and ended the July month F&O expiry on a flat note. 

The European markets ended Thursday’s session in red. The DAX of Germany plunged 0.76 per cent and the CAC 40 of France fell 0.06 per cent. The FTSE 100 of the UK weakened 0.12 per cent. 

US stock indices had a mixed outing on Thursday, the Nasdaq composite and the S&P 500 ended in negative terrain, while, the Dow Jones Industrial Average was the exception as it reached a new record closing high. The Dow advanced 86 points to 21,797, but the Nasdaq ended lower by 41 points to 6,382 and the S&P 500 ended the session at 2,475 with loss of about 2 points.  
 
Asian stocks slipped in early trading on Friday; Hong Kong Hang Seng has lost 160 points to 26,972. China’s Shanghai Composite is trading flat at 3,249. Japan’s Nikkei 225 has shed 85 points to 19,995.
 
Indian equity markets may start August series on negative note as cues from the global peers are dismal. The SGX Nifty is quoting at 9,999 down by 73 points, indicating a gap-down start for domestic markets. Important earnings to be announced today are L&T, Lic Hosuing, Equitas Holdings, India Cements and Oberoi Realty.