Markets to witness a gap-down opening

On back of negative cues from Asian peers, Indian markets are likely to open sharply lower today. At 7:48 AM, SGX Nifty was down by 84.50 points at 9,780 levels.  It would be interesting to see whether the dip would be bought or not? In the recent days, weakness has been bought and the level of 9,720 has proved to be a strong support for the index. However, today is weekly option expiry and bears might get back into action in today’s session amid border uncertainty. Having said that, Bulls will keep a close eye on the 9,700-9,720 levels as breach of this support could lead to further downside.  

On Thursday, Asian markets were trading in a negative terrain. This was followed by the dreary close on Wall Street amid concerns over second wave of coronavirus infection. Japan’s Nikkei 225 and Hong Kong’s Hang Seng plunged over 1 per cent. Whereas, China’s Shanghai Composite skidded nearly half a per cent.

Asian Markets

The intense tussle between the bulls and bears on D-Street remained unresolved on Wednesday, witnessing yet another volatile session. At the closing bell, Nifty and Sensex drowned 0.33 per cent and 0.29 per cent respectively.  Amidst all, the broader markets outperformed where Nifty Mid-cap and Small-cap ended with modest gains of 0.11 per cent and 0.50 per cent respectively. Market breadth remained skewed towards advancers as among 1,916 stocks traded, 1,012 advanced, 835 declined, and the rest remained unchanged. On the sectoral front, mixed trend was exhibited as Nifty Financial Services and Nifty Metal were the top losers and, Nifty Media and Nifty Auto were the top gainers.

On Wednesday, as US stocks floated between gains and losses, markets ended the session on a mixed note. Amid evocative fears of a potential second wave of COVID-19 in many of the US states, market participants preferred to take profits off table post three days of run. Dow and S&P 500 ended the day in red, while the tech-heavy Nasdaq eked out modest gains. Ahead of monetary policy event, European indices advanced.  

US Markets

Europe Markets

Commodity