The Indian benchmarks are likely to open on a flat to soft start on Wednesday amid mixed global cues from Asian markets. The SGX Nifty, which was trading at 10,141, indicated that the Nifty may open with a loss of 27 points at the opening bell. Nifty50 index has been consolidating in a narrow range of 10,130 to 10,179 since last three trading sessions. Hence, a break of this range in either side will result in a trending move. On the upside, if Nifty manages to sustain above 10,180 it may scale up to levels of 10,200-10,240, whereas on the downside, a breach of 10,130 may open for correction up to the levels of 10,115-10,080.
Back home, Indian markets fluctuated between small gains and losses over the course of Wednesday’s session and ended the day near the neutral line. The market breadth, indicating the overall health of the market, was negative. The BSE Sensex lost 2 points to settle at 32,401 and the Nifty index shed 6 points to close at 10,141.
Wall Street saw considerably volatility in the last leg of trading session on Wednesday as market participants digested the Federal Reserve’s monetary policy announcement. The Fed kept interest rates unchanged, but outlined its plan to start reducing its massive balance sheet in October. The Dow Industrial and the S&P 500 market set new record closing highs. The Dow Jones Industrial Average gained 42 points to finish at 22,413. The S&P 500 rose 2 points to close at 2,508. The Nasdaq Composite Index lost 5 points to close at 6,456.
Asian equity markets struggled for direction on Thursday morning as the US stock markets closed mixed. The Japan’s Nikkei 225 has surged 159 points. The Hong Kong's Hang Seng has shed 35 points and China’s Shanghai Composite has declined by 6 points.
