Indian Markets to Open flat on mixed global cues - ICICIdirect

The Indian markets are expected to open flat on the back of mixed global cues. The markets continued their upward momentum and rose modestly in Thursday's trading session. The markets ended in the green after a marginal drop during the opening session. The markets took positive cues from the upbeat economic data from the US & China (China' official PMI for non-manufacturing sector rose to 56.1 in December from 55.6 in November).

Technology and oil & gas sector stocks led the advance. The Sensex was higher by 50.5 points to close at 19764.8 while the Nifty ended at 6009.5, up 16.3 points. The Sensex has supports at 19690 and 19600 and resistances at 19780 and 19850. The Nifty spot has supports at 5982 and 5950 and resistances at 6025 and 6055.

US markets ended in the red after opening positive in the opening session. The markets were upbeat during the opening session on the back of stronger-than-expected private sector job growth in December. The upbeat mood, however, tapered down during the later part of the day due to clues derived from the minutes of the latest Fed meeting, which suggested that the US Fed could end its quantitative easing programme earlier than anticipated. The Dow declined 21.2 points or 0.2% to 13,391.4, the Nasdaq was down 11.7 points or 0.4% to 3100.6 while the S&P 500 ended lower by 3.1 points to close at 1,459.4.

Source : Equity Bulls

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