Markets likely to open lower and remain volatile on F&O expiry

Today being the F&O expiry day, the markets are likely to open in the red on the back sluggish global cues and volatility is like to creep in with the progress of the session. The markets would keenly watch the Q2FY18 GDP numbers. SGX Nifty indicates that the Nifty could open at 10,303, down by 57 points at the opening bell.  

Most of Asian markets are trading lower in the early trade on Thursday. Hong Kong’s Hang Seng has plunged 293 points, Japan’s Nikkei 225 has slipped 28 points and China’s Shanghai Composite has lost 4 points. 

Back home, key equity benchmarks settled tad lower after moving in a narrow range for most part of the trading session. Selling was seen in broader indices too, with Nifty Mid-Cap and Small-Cap Index declining 0.31% and 0.45%, respectively. Sector-wise, Nifty Realty was among the best performers as it surged 0.89%, followed by Nifty Pharma and Nifty Auto. At the end of the day, BSE Sensex slipped 16 points to close at 33,603 and Nifty dipped 9 points to close at 10,361.  

The US stocks turned in a mixed performance on Wednesday, with the Dow closing at an all-time high, whereas the tech-laden Nasdaq ended sharply lower after tech stocks came under selling pressure. The Dow Jones Industrial Average rose 104 points to 23,941, Nasdaq plunged 88 points to 6,824 and S&P 500 closed with a single point loss at 2,626.  

The European markets ended Wednesday’s session on a mixed note. The FTSE 100 of UK was among the weakest performers on the back of a surge in the value of the British pound after media reports that Britain and the EU have edged closer towards a deal on Brexit divorce bill enabling to begin talks on an interim trade deal.  On the other hand, The DAX of Germany added 0.02% and the CAC 40 of France gained 0.14%.