Markets set to start new year on a subdued note
The key benchmark indices are expected to make a soft start on the first trading session of 2018. The SGX Nifty suggests that Nifty could open at 10,531 with a loss of 28 points at the opening bell.
Majority of the Asian stock markets were closed on account of new year eve.
Back home, markets ended the last trading session of the year 2017 at the highest point. Broader indices put up a good show as well at the end of the year as Nifty Mid-Cap and Small-Cap gained 0.68% and 0.88%, respectively. Sector-wise, Nifty IT and Nifty Auto ended with smart gains of 1.47% and 1.28%, respectively. At the closing bell, Nifty surged 53 points to end at 10,531 and the BSE Sensex rose 209 points to close at 34,057.
The US stock indices slid into negative territory on Friday as trading activity remained light for the day. The Dow Jones Industrial Average lost 118 points to close at 24,719, the Nasdaq edged down 47 points to finish at 6,903 and the S&P 500 dropped 14 points to end the day at 2,674. For the year 2017, Dow gained about 25%, the tech-heavy Nasdaq registered gains of about 28% and the S&P 500 rose 19.4%.
The majority of European stocks ended with modest losses on Friday. The CAC 40 of France fell 0.50%, DAX of Germany dropped 0.48%, whereas FTSE 100 of the UK ended higher by 0.85%.