Nifty Likely to Open Lower Today on Weak Asian Cues

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Nifty Likely to Open Lower Today on Weak Asian Cues

By Aditya Raghunath

Investing.com -- Early trends indicate that Nifty 50 and the BSE Sensex 30 are likely to open lower on weak cues in early Asian trade. Nifty 50 Futures in Singapore are trading lower by 0.15% as of this report indicating a gap down opening for the markets.

Analysts have said that while it is possible for Nifty to hit the 17,000 mark, profit-booking at that level is likely, and have advised investors to use the fall until 16,850 as a buying opportunity in select stocks.

As of this report, Asian markets are all trading lower with Nikkei 225 and KOSPI 50 down 0.19% each while the Shanghai Composite is down 0.62%.

China’s manufacturing Purchasing Manager’s Index (PMI) for August came in at 50.1 in August compared to 50.4 in July. A Reuters’ analyst poll had expected the index to come in at 50.2. 50 is the mark in the index that separates growth from contraction.

It was a good day for Wall Street as the S&P 500 and Nasdaq 100 closed at record highs on the back of the US Fed’s continued dovish stance. As of this report, Dow Jones 30 Futures and S&P 500 Futures are trading up less than 0.1% while Nasdaq 100 Futures are down less than 0.1%.

Gold prices have been gathering momentum as the dollar weakens. Gold is now at $1,815.4 per ounce in global markets.

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  • kailash Gautam @kailash Gautam
    No , it's 31st of Aug all financial agencies will project India's growth , and market will go higher in emotion waves
    Like 2
  • Ganesh Yeole @Ganesh Yeole
    16500pe Nifty 50
    Like 0
  • Abdu Rafai @Abdu Rafai
    Sell sell only sell
    Like 0
  • satyabrata nayak @satyabrata nayak
    global market on panic selling. .
    Like 1
  • satyabrata nayak @satyabrata nayak
    sell on rise
    Like 1
    • yogesh sharma @yogesh sharma
      hayy
      Like 0
    • Mdirshad alam @Mdirshad alam
      Only buy  Intraday 17100... overnight risk 😎
      Like 0
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

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