India : Markets to trade flat with negative bias, F&O expiry eyed

Dalal Street witnessed a choppy session on Wednesday as markets moved from one extreme to another, which was evident by the fact that after gaining close to half a percentage point, both the benchmark indices came in for profit taking in the last hour of trade dragged down by bears. The markets closed the day extremely flat. India Nifty closed well above 8025; whereas Sensex also managed to close above levels of 26200 on Wednesday, December 28.European markets more or less remained flat in trade with still many traders and investors enjoying their vacations. Thin volume of shares was traded on the bourses. UK’s FTSE and the Spanish IBEX were the biggest gainers in trade on Wednesday, December 28.US stocks too witnessed a lacklustre day of trading as momentum towards new highs fizzled out. Major indices closed lower with losses nearing close to one percentage points.Asian shares are trading mostly in the red, primarily led by Japanese Nikkei wherecompany specific problems led to a massive decline in shareholders’ wealth. Other Asian indices too are in the red on Thursday, December 29, 2016.SGX Nifty is trading with losses of 0.36 per cent to the levels of 8010. Markets are expected to open flat with negative bias. However, stock specific action will remain a key factor.