US Markets Gained Overnight but India Likely to Open Flat on Inflation Data

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US Markets Gained Overnight but India Likely to Open Flat on Inflation Data
Credit: © Reuters.

By Aditya Raghunath -- Wall Street ended up on Thursday but market experts have warned that Indian markets might open flat as they take in the 5% US inflation number into account. However, comments from the ECB suggest that it could be “too early and premature” for the US Fed to move away from its easy-money stance.

Nifty 50 and the BSE Sensex 30 gained handsomely yesterday and the last trading session of the week could be about consolidation. Nifty 50 Futures in Singapore are trading up 0.2% as of this report indicating a muted to a gap up opening start to the market.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal (NS: MOFS ) Financial Services, in an interview to ET Now had said investors should buy Reliance Industries Ltd (NS: RELI ) and Bharti Airtel Ltd. (NS: BRTI ) at every dip.

Foreign institutional investors (FIIs) have net bought Rs 4,769.39 crore in Indian equities so far while domestic institutional investors (DIIs) have been net sellers to the tune of Rs 2,471.63 crore.

Asian markets are all trading down with Nikkei 225 , KOSPI 50 and the Shanghai Composite down 0.01%, 0.36% and 0.11% respectively.

US futures are trading mixed with Dow Jones 30 Futures flat while S&P 500 Futures are up 0.03% and Nasdaq 100 Futures are up 0.12%

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  • satyabrata nayak @satyabrata nayak
    mkt will crash as over bought...
    Like 0

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