A weak opening on the cards

Indian equity benchmarks settled with minor gains after a volatile trading session. The benchmark indices reversed trend in mid-morning trade after hitting their Intraday high levels in morning trade. Sensex rose 25 points to end at 31,795 and Nifty edged up 7 points to end above important psychological 9,900 mark. 

European indices snapped its three day winning streak on Thursday, ending the session with losses. The CAC 40 of France dropped 0.57 per cent; the FTSE 100 of the U.K. fell 0.61 per cent. The DAX of Germany ended lower by 0.49 per cent. 

U.S. stock benchmarks on Thursday ended sharply lower on the back of concerns about the ongoing political turmoil in Washington, D.C. and news of a terrorist attack in Barcelona. The Dow Jones Industrial Average plummeted 274 points to close at 21,751. The Nasdaq Composite Index nosedived 123 points to 6,212. The S&P 500 shed 38 points to 2,430.

Stock indexes in Asia declined in early trade on Friday following a sharp sell-off on Wall Street. Japan’s Nikkei 225 has dropped 201 points. Hong Kong Hang Seng has tumbled 292 points and China’s Shanghai Composite has slipped 13 points.

Benchmark indices are likely to open lower tracking negative cues from Asian peers and sell-off on Wall Street. The SGX Nifty was trading at 9,886 down by 45 points is showing a negative start for the day.