Markets may open lower on mixed cues from Asian peers

Domestic markets are expected to nudge lower after logging record closing in the previous trading session on the back of mixed cues from Asian peers. The SGX Nifty indicates that Nifty could fall 23 points and open around 10,462 at the opening bell.  

The stocks of companies like Andhra Bank, Berger Paints, Cera Sanitaryware, Deepak Fertilizers, Edelweiss, Glenmark Pharmaceuticals, HCC, Natco Pharma, Ujjivan Financial Services, Vedanta, Power Grid Corporation, Orient Cement, Ramco Cement, Sundaram Fasteners and Transport Corporation of India will be in focus today as these companies are expected to announce earnings today.   

Asian stock markets were mixed in early deals on Thursday. Japan's  Nikkei 225 has gained 0.17%, Hong Kong’s Hang Seng has dipped 0.10% and China’s Shanghai Composite has lost 0.40%. 

Back home, markets opened higher and thereafter extended gains to settle near day’s high. This move was mainly driven by the banking stocks, with Bank Nifty beating previous barrier to mark record highs. At the end of session, Nifty settled at 10,441, up almost by a per cent, and BSE Sensex closed at 33,600, up 1.17%.  

Majority of the US stocks held on to modest gains on Wednesday after the Fed decided to maintain status quo on interest rates, which was along expected lines and offered support for the December rate hike. Trump’s tax reduction proposals were expected on Wednesday, but the same have been postponed by another day, something that is making the markets quite jittery. The Dow Jones Industrial Average rose 58 points to close at 23,435, S&P 500 added 4 points to finish at 2,579, while the Nasdaq Composite index slipped 11 points to end the day at 6,717.  

Majority of European market ended Wednesday’s session on a firm note. The German DAX rallied 1.78% after investors returned to action following public holiday. The French CAC 40 gained 0.20%, while FTSE 100 of the UK shed 0.07%.