Flat opening expected on last F&O expiry of the year

Welcome to last F&O expiry of the year 2019! Today, the markets will open after a day of trading holiday. In the last two trading sessions, we had seen that bears have had an upper hand, as the markets were looking exhausted at the top and the market breadth was getting deteriorated. Moreover, market participants preferred to take profit off table before the Christmas celebration. However, coming back to today’s session, the indices are set to open on a flat note ahead of the expiry of December F&O contracts. With most markets shut or closing early, the Indian markets will be swinging to the tunes of F&O adjustments. SGX Nifty was trading up by 2 points at 12,236.

The majority of the Asian markets are trading positive on Thursday. Japan’s Nikkei 225 has edged up 0.44 per cent and the China’s Shanghai Composite is trading up by 0.33 per cent. Hong Kong’s Hang Seng is shut due to Christmas holidays.

Back home on Tuesday, the markets extended its losses for the second consecutive session on the back of profit taking. For the major part of the trading session, the markets traded in a minimal and capped range. However, in the last leg of the session, sellers got active and selling pressure got intensified. As a result market ended the day with losses. the Nifty ended lower by 0.39 per cent and the BSE Sensex dropped 0.44 per cent, respectively. The broader markets also ended the day in red, with Nifty Midcap being down by 0.23 per cent and Smallcap declining by 0.02 per cent. on the sectoral front, Nifty IT, Nifty Media, and Nifty Auto ended up as the top losers, whereas, Nifty Metal and Nifty Realty were the top gainers.  

Major global markets were closed on Wednesday for Christmas Day.