Nifty All Set to Have Lower Opening Yet Again

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Nifty All Set to Have Lower Opening Yet Again
Credit: © Reuters.

By Puneet Sikka -- Nifty is all set to have another lower opening for the fourth consecutive session today. Nifty 50 Futures , a key indicator for how Indian markets could turn out to be in the near term, is down around 1% at the time of this writing. The Nifty index has corrected from 18,300 levels at the beginning of this week and is expected to open at around 17,600 today.

So what is ailing the Indian markets? To start with, the US markets have also shown a similar pattern of correction and Indian markets are simply following it. Then inflation worries, higher oil prices and geopolitical tensions have made sure that the weakness in broader markets continues.

Overnight, all US indices viz with Dow Jones , S&P 500 and Nasdaq decline by around 1%. US-Russia tensions over Ukraine continue to grow while the regulatory crackdown on Chinese tech companies is again making news. Investors are also worried about the possibility of both US Fed interest rate hikes and the possible reduction of its $8.8 trillion balance sheet.

Finally, Crude oil continues to trade stubbornly above $80, which is not so good news for India as the country meets most of its crude requirements through imports.

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  • nirala stock @nirala stock
    in budget week nifty making new high. February all world market will be in yearly high
    Like 0
  • nirala stock @nirala stock
    do not worry pull back rally starts from 24/ 1
    Like 0

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