Markets may open flat tracking listless cues from Asian markets

The stock markets in India are expected to open flat due to lack of clear trend in Asian indices. The SGX Nifty Index Future was marginally up by 3 points at 10,624 indicating flat opening for the Nifty.  
  
The stocks in Asian markets lacked a clear trend on Thursday. China’s Shanghai Composite index was down 0.26 per cent and Hong Kong’s Hang Seng has dipped 0.21 per cent, while the Japanese stock market Nikkei 225 was unchanged.   
  
Back home, India’s benchmark indices continued their slide for the second day in a row with Nifty sliding 0.53 per cent to finish at 10,600 and the BSE Sensex dropping 0.77 per cent to close at 35,199. Despite the weakness in the frontline indices, the broader market seems resilient and ended in the green with Nifty Mid-cap and Small-cap gaining 0.50 and 0.48 per cent, respectively. Among sectoral indices, Nifty IT was the biggest loser, followed by Nifty Metal and Nifty Media, while Nifty Pharma ended as a top gainer, followed by Nifty Realty.  
  
The US stock markets rebounded on Wednesday as the hard-hit tech sector reversed course after two days of major sell-offs. In the economic news, existing home sales in October increased 1.4 per cent M-o-M to an annual rate of 5.22 million units, while the commerce department said durable goods orders plunged by 4.4 per cent in October. In the end, the Dow Jones Industrial Average closed almost unchanged; the S&P 500 added 0.30 per cent and the Nasdaq rose 0.92 per cent.  
  
The European markets ended Wednesday's session on an optimistic note as a resolution to the Italian budget deficit seemed to draw closer. Italian banks led the way as reports promoted buoyancy with Italy expected to make compromise with the European Union sooner or later on certain aspects of its budget. The DAX of Germany climbed 1.61 per cent, the CAC of France gained 1.03 per cent and the UK’s FTSE 100 increased 1.47 per cent.