Markets may start in the green amid positive global cues

In early action, the trend in SGX Nifty indicates that the Indian markets may see a flat to positive opening as the SGX Nifty is trading higher by 19 points at 11,292 levels. Volatility will be the buzzword in today’s session as F&O July series will be in focus. On the earnings front, some of the big names to report their earnings are Ambuja Cement, Biocon, Bajaj Finance, Bank of Baroda, PVR and Tata Motors.  

A majority of the Asian markets are trading with modest gains on Thursday morning following strong performance by the S&P 500 and the Nasdaq on the Wall Street overnight. The Japanese stock index Nikkei 225 has advanced 0.34 per cent and Hong Kong’s Hang Seng has risen 0.13 per cent, while China’s Shanghai Composite index has dipped 0.09 per cent

Back home, markets moved marginally higher in the early part of the session, but the gains soon fizzled out and, thereafter, the key benchmark indices slipped into negative terrain and traded with negative bias throughout the session. In the end, the benchmark indices extended their fall for the fifth consecutive session. The Nifty and BSE Sensex closed below their crucial psychological levels of 37,900 and 11,300, respectively. The correction in the broader indices was deeper with Nifty Midcap and Smallcap plunging 1.48 per cent and 1.45 per cent, respectively. Barring Nifty Media and Nifty FMCG, all other sectoral indices witnessed selling pressure and closed in the red with Nifty Metal, Nifty Auto, Nifty Pharma and Nifty PSU Bank being top losers.

A majority of the US stocks ended in the green on Wednesday with the S&P 500 and Nasdaq going back to record highs as traders were busy digesting the latest batch of corporate profit reports. However, the Dow ended lower on the back of disappointed earnings reports from Boeing and Caterpillar.  

The European stocks finished mixed on Wednesday as market participants were seen cautious ahead of the monetary policy decision by the ECB on Thursday. Germany’s DAX edged up 0.26 per cent, and on the flip side, France’s CAC 40 and UK’s FTSE 100 declined 0.22 per cent and 0.73 per cent, respectively.