Market Pre-Opening Podcast on May 24, 2018
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Moneycontrol News
The Nifty50 is expected to open flat-to-positive on Thursday following muted trend seen in other Asian markets. The index closed 106 points lower at 10,430 on Wednesday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 26.5 points, or 0.25 percent. Nifty futures were trading around 10,447.50 on the Singaporean Stock Exchange.
US stocks ended with small gains on Wednesday after minutes from the Federal Reserve's latest meeting suggested higher inflation may not result in faster interest rate hikes, said a Reuters report.
Asian shares moved lower on Thursday as investors fretted about new setbacks in US-China trade talks, but negative sentiment was tempered by US Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates, it said.
As long as Nifty50 trades below 10,500 levels, bears will remain in control and the selling pressure could take the index towards 10,350 levels on the downside, suggest experts. The next crucial support is placed at 200-DMA around 10,240.