DSIJ Mindshare

Indian markets are likely to open flat tracking SGX Nifty

Indian capital markets observed a profit booking trend in the last hour of Monday’s trading session. Nifty was able to sustain level of 8500. The BSE Sensex decreased 89.84 points or 0.32% quoting 27836.5 and Nifty also reduced by 32.7 points or 0.38% quoting 8541.4.  All of the sectoral indices traded in red except IT and Auto.

Wall Street also traded in green on Monday. The Dow Jones remained flat and increased by 0.09% to 18533. The S&P 500 too rose by 0.24 per cent, quoting 2167.  U.S. benchmark crude, WTI decreased 0.46% to USD 45.03; while Brent crude, the international standard, also reduced by 0.38% to USD 46.78.

European indices also traded in the mix on July 18. Germany's main index, the DAX, traded down by 0.04% to 10063 along with France's CAC 40, which decreased 0.34% to 4358. However, Britain's FTSE 100 increased by 0.39% quoting 6694.

Markets in Asia are following global cues and are trading in the mix during the morning session on Tuesday. The Shanghai Composite index has decreased by 0.10%. Japan’s Nikkei 225 index has increased by 0.26%. Australia’s S&P/ASX 200 Index has reduced by 0.04%; while New Zealand’s S&P/NZX 50 Index has increased by 0.19%. South Korea’s KOSPI also has risen 0.43%. The Hang Seng Index has decreased by 0.75%.

While on domestic front, A SGX Nifty index future for July series is trading up by 18 points at 8537.50. The global rating agency, Fitch has reaffirmed India's 'BBB-' rating with a stable outlook, while projected growth will be 7.7 per cent for FY17. Indian markets are likely to open flat.

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