India : Markets may open flat to negative amid subdued global cues
Mon Apr 17 2017
Rajesh Sharma (2002 articles)

India : Markets may open flat to negative amid subdued global cues


Indian benchmark indices on Thursday got off to a flat start, and slipped below the neutral line, thereafter trading in a tight band for the most part of the trading session, however, sharp selling emerged in the late afternoon trades post opening of European markets. In the end, the NSE’s 50-share broadly followed index, Nifty, suffered over half a per cent cut to settle near the crucial 9150 support level, while Bombay Stock Exchange’s Sensitive Index, Sensex slipped by over one hundred and fifty points and closed below the psychological 29,500 mark.The European markets were closed on Friday on account of Easter holidays.  However, on Thursday European markets got off to a weak start and remained in negative territory throughout the trading session. The DAX of Germany dropped 0.38 per cent and the CAC 40 of France fell 0.59 per cent. The FTSE 100 of the U.K. declined 0.29 per cent   The U.S stocks were closed on Friday. On Thursday, U. S stocks ended negative. The Dow Jones Industrial Average shed 138 points. The S&P 500 dropped 15 points and Nasdaq Composite Index declined 31 points.Asian markets are trading lower on Monday. Japan’s Nikkei 225 is trading with losses of 66 points. China’s Shanghai Composite is trading lower by 21 points. Hong Kong’s Hang Seng is closed today on account of Easter holiday.  At 8:04 am, SGX Nifty Index is trading with losses of 4.50 points at 9151, indicating a flat to negative start for Indian equities.  Investors will keep an eye on the upcoming macro-economic data Wholesale Price Index (WPI) which will be released today.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.


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