Markets open lower in early trade
23/08/2016 09:28
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Tightening of US monetary policy may lead to volatility in capital flows to emerging markets such as Asia’s third biggest economy. Meanwhile, fading hopes of an interest rate cut following the appointment of Urjit Patel as the new RBI Governor may continue to weigh on sentiment at Dalal Street.
Volatility may remain high at the local bourses as traders roll over their positions due to the August Futures & Options (F&O) contract expiry this Thursday.
At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27971.26 down by 14.28 points or by 0.05 per cent, while the NSE Nifty was at 8628.35 points, trading lower by 0.8 points or by 0.01 per cent.
On the global front, Asian stocks were trading lower today on weakness in crude prices while traders weighed the prospects of a US rate hike this year.
US stocks ended on a listless note in the previous trading session after Federal Reserve Vice Chairman Stanley Fisher said that the US economy was closer to meeting the central bank’s goals, raising speculation of a 2016 interest rate hike, while oil snapped the longest winning run in four years.
23/08/2016 09:28
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NIFTY FUT TREND : SELL ZONE
The key domestic benchmark indices opened lower in the morning trading session tracking a mostly bearish trend across markets in Asia and a tepid finish at Wall Street overnight as investors across the globe await Fed Chair Janet Yellen’s speech on Friday at Jackson Hole, in which she may offer some cues over the timing of the next US interest rate hike, curbing risk taking appetite.Tightening of US monetary policy may lead to volatility in capital flows to emerging markets such as Asia’s third biggest economy. Meanwhile, fading hopes of an interest rate cut following the appointment of Urjit Patel as the new RBI Governor may continue to weigh on sentiment at Dalal Street.
Volatility may remain high at the local bourses as traders roll over their positions due to the August Futures & Options (F&O) contract expiry this Thursday.
At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27971.26 down by 14.28 points or by 0.05 per cent, while the NSE Nifty was at 8628.35 points, trading lower by 0.8 points or by 0.01 per cent.
On the global front, Asian stocks were trading lower today on weakness in crude prices while traders weighed the prospects of a US rate hike this year.
US stocks ended on a listless note in the previous trading session after Federal Reserve Vice Chairman Stanley Fisher said that the US economy was closer to meeting the central bank’s goals, raising speculation of a 2016 interest rate hike, while oil snapped the longest winning run in four years.
