Indian markets are likely to open flat tracking SGX Nifty but could remain volatile during the day.
Following the weakness seen in the few previous trading session the US markets started with a strong note on Wednesday and ended the day with strong gains. Banking steel and Biotech stocks were in favor during the day. Meanwhile a positive data set with regards to pending home sales also had an impact on the markets.The European markets mixed on Wednesday; while some markets remained flat the FTSE lost ground. Fresh cyberattack (ransom ware) impacted the investor’s sentiment.
Indian markets continued their downward move on Wednesday as well. Markets were expected to remain volatile ahead of expiry and the nearing of GST implementation and its repercussions seems to have brought in some nervousness among investors. The weakness in markets could continue for some more time to come before it starts settling down.
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