Gap-up opening anticipated for the markets

Today, the markets are expected to open with a gap on the higher side amid firm global cues. Traders will remain watchful ahead of the RBI’s policy review meeting. The RBI is widely expected to keep its key rates on hold. The SGX Nifty is pointing that Nifty may open with gains of around 167 points at 10,297.  

Asian stock markets are edging higher on Thursday following the strong rebound on Wall Street overnight. Japan’s benchmark index Nikkei 225 has surged 1.58%, while China’s Shanghai Composite and Hong Kong’s Hang Seng are closed for a holiday.  

Back home, after a flat start, key benchmark indices were set to continue their jubilant run. However, there was a twist in the tale as markets nosedived in the late afternoon session on the back of some fresh worries arising on the trade war between the US and China. Nifty closed at 10,128, down by 117 points, and BSE Sensex slumped 352 points to close at 33,019. The broader indices slipped lower as Nifty Mid-cap and Small-Cap ended lower by 1.17% and 1.42%, respectively. Barring Nifty Auto, all other sectoral indices closed in the red.  

The US stocks witnessed a roller-coaster ride on Wednesday as the markets staged a smart rally from intra-day lows of the day. The Dow Jones staged its biggest rebound from an intra-day low in about six weeks. The Dow was down by over 500 points, but it managed to end the session with gains of 0.96% at 24,264. The Nasdaq jumped 1.45% to end at 7,042 and the S&P 500 rose 1.16% to close at 2,645. The rebound on Wall Street came as traders shook off trade war concerns that had weighed on the markets at the outset .   

Majority of the European markets ended Wednesday’s session in the red. The DAX of Germany lost 0.37% and the CAC 40 of France dipped 0.20%. The FTST 100 of the UK remained almost unchanged.