D-Street to open on a flat to negative note

Amid negative cues from global peers, Indian markets are likely to open flat. At 7.55 AM, SGX Nifty was trading marginally down by 6.50 points at 10,105. Expect markets to play both ways as weekly option expiry is scheduled today. 

Post US Fed projecting economy to contract by 6.5 per cent in 2020, Wall Street witnessed a mixed close. This resulted in Asian markets trading lower on Thursday. Japan’s Nikkei 225 lost over a percent, Hong Kong’s Hang Seng contracted by 0.33 per cent and China’s Shanghai Composite was down by 0.15 per cent. 

Asian Markets

On Wednesday, just like a Ping-Pong game, Indian stock markets were in a range bound trade; passing balls back and forth. Said that, as Fitch ratings projected India’s economy to grow at 9.5 per cent in 2021-22, bulls were seen in gush in the final hour of the trade. This helped markets to settle around day’s high. Sensex hopped 0.86 per cent to close at 34,247 and Nifty soared 0.69 to finish at 10,116. In the broader markets, Nifty Mid-cap and Small-cap indices advanced 1.22 per cent and 0.51 per cent respectively. On sectoral front, mixed trend was seen with Nifty PSU Bank and Nifty Private Bank advancing the most and, on the flipside, Nifty Auto and Nifty Metal were top losers.  

US Stocks ended its volatile session on a mixed note, with tech-heavy Nasdaq for the first time closing above its milestone of 10,000. The Federal Reserve signaled they intend to hold interest rates near to zero until at least 2022. Further, it projected that the US economy would contract by 6.5 per cent for 2020. At closing bell, Nasdaq outperformed, while Dow and S&P 500 ended in the red. 

US Markets

Europe Markets

Commodity