Markets may see negative opening following subdued cues from Asian peers

Karan Dsij
/ Categories: Trending, Pre Morning
Markets may see negative opening following subdued cues from Asian peers

After two straight days of gains, will it stop raining gains for Indian markets? Well, the subdued cues from the Asian peers and the disappointing data from the US overnight are certainly pointing at a shaky start. The SGX Nifty at the time of writing is seen trading down by 20 points at 10,793. 
  
The Asian markets are trading soft on the last trading session of the week following a weak closing on the Wall Street overnight as soft US economic data remained a matter of concern about a global economic slowdown. Hong Kong’s stock index Hang Seng has lost 0.58 per cent, Japan’s Nikkei 225 has declined 0.38 per cent and China’s Shanghai Composite Index has dipped 0.14 per cent. 
  
Back home, the key benchmark indices extended their rebound, spreading a wave of green for the second day in a row on Thursday. After starting the session on a flat note, the indices gradually moved higher as the day progressed. In the end, Nifty gained 0.51 per cent to close at 10,790 and the BSE Sensex gained 0.40 per cent to finish at 35,898. The broader indices outperformed the benchmark indices with Nifty Mid-cap and Small-cap advancing 1.08 per cent and 1.44 per cent, respectively. Among sectoral indices, barring Nifty IT, all other sectoral indices traded in tandem with the benchmark indices and settled higher, with Nifty Pharma, Metal and Media being the top gainers.  
  
The US stocks finished lower on Thursday as optimism over trade in the wake of continued US-China negotiations was offset with a host of soft economic data. The Dow Jones dipped 0.40 per cent, tech-heavy Nasdaq slipped 0.39 per cent and the S&P 500 shed 0.35 per cent. 
  
The European indices finished mixed on Thursday amid poor corporate earnings. The DAX of Germany added 0.19 per cent and the CAC 40 closed near the break-even line, while the FTSE 100 of the UK skidded 0.85 per cent.  

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