Markets may start positive, but volatility likely due to F&O expiry
By Karan Bhojwani |
12/28/2017 8:33 AM Thursday
The start of the F&O expiry day is likely to be in the green, but volatility may creep in with the progress of the session. The SGX Nifty suggests that the Nifty could open at 10,525 with gains of 32 points at the opening bell.
Asian stock markets are trading in the positive territory today. Japan’s Nikkei 225 has climbed 35 points, Hong Kong’s Hang Seng has surged 179 points and China’s Shanghai Composite has gained 8 points.
Back home, after scaling to fresh all-time highs, the markets lost their way completely in the final hours of trading and ended in the red as traders chose to book their profits following the sharp gains recently . Selling pressure was noticed in the broader indices too as Nifty Mid-Cap and Small-Cap dipped 0.12% and 0.38%, respectively. Sector-wise, Nifty Pharma was in the pink of health as it surged 2.38%. At the closing bell, Nifty settled at 10,491 with loss of 0.39% and BSE Sensex ended lower by 0.29% at 33,912.
The US stocks logged minor gains on Wednesday. The overall activity remained muted as many traders remained away from their desks ahead of the new year. The Dow Jones Industrial Average edged up 28 points to close at 24,774, Nasdaq inched up 3 points to finish at 6,939 and the S&P 500 added 2 points to settle at 2,683.
The European indices, after the long Christmas holiday weekend, returned to action. However, the activity remained subdued as indices fluctuated between small gains and losses. The CAC 40 of France gained 0.08%, FTSE 100 of the UK rose 0.37%, while DAX of Germany slipped 0.02%.
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