Markets may open flat to negative amid subdued global cues

The domestic indices continued their northward journey and registered almost gains of about 1% in Tuesday’s session. Buying was seen across the sectors and the broader markets too witness handsome gains. The BSE Sensex settled above the 32,000 mark and Nifty closed 7 points shy of the 10,100 mark.

The majority of the European indexes ended Tuesday’s session in the positive territory. The CAC 40 of France gained 0.62% and the DAX of Germany climbed 0.40%.  While the FTSE 100 of the UK shed 0.17%.

On Tuesday, it was a triple delight for the US’ stocks as the major indexes hit new highs. The Dow Jones Industrial Average gained 0.28% to 22,119. The Nasdaq Composite rose 0.34% to 6,454 and the S&P 500 advanced 0.34% to finish at 2,496.
 
Equity markets in Asian struggled to find clear direction on Wednesday. The Japan’s Nikkei 225 has moved higher by 0.47%. While the China’s Shanghai Composite has lost 0.37% and Hong Kong’s Hang Seng has corrected 0.45%.  

Subdued Asian stock markets suggest that Indian markets may open flat with negative bias.  The Nifty futures on the Singapore Exchange were trading lower by 16 points at 10,093. The CPI Inflation data which was released post market hours yesterday came in at 3.36% in August 2017 as against 2.36% in July 2017. Whereas, IIP numbers grew at 1.2% in July 2017 from a contraction of 0.2% in June 2017.