Why Nifty Is Likely to Endure a Flat Opening Today

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Why Nifty Is Likely to Endure a Flat Opening Today
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- It looks like markets will continue where they left off yesterday with all indicators pointing to a flat opening today. Nifty 50 Futures are up 0.1% that suggests a flat opening for Nifty and the BSE Sensex .

Yesterday, markets gave up the gains they held in the early part of the day to close flat. All eyes are on the two-day US Fed meeting hoping to get clarity on the Fed’s decision on whether or not it will increase interest rates as the economy recovers. US markets declined yesterday with the Dow Jones Industrial Average closing down 0.39%, followed by the S&P 500 down 0.16% while the NASDAQ Composite gained 0.09%. 

Asian markets have opened flat to lower with the Nikkei 225 trading flat while KOSPI 50 and the Shanghai Composite trading down 0.8% and 0.2% respectively.

Public sector banks in India will continue their two-day strike today. There are media reports that have suggested that the banks might extend the strike a la the farmers’ protests. Two IPOs will launch in the market today: Gaming company Nazara Technologies Ltd (NS: NAZA ) and Suryoday Small Finance Bank.

Crude oil is trading flat at $64.72. The Indian government has asked state refiners to cut down on oil imports from Saudi Arabia.

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