Why Nifty Is Likely to Endure a Flat Opening Today
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.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or