Indian Markets are likely to open soft tracking muted Asian Markets - TRANS SCAN

The Indian markets are likely to open soft tracking muted Asian markets. The index is likely to remain volatile ahead of May F&O expiry due today. At 07:30 a.m., Nifty India stock futures in Singapore were trading 2 points higher at 6088, indicating a soft opening on the domestic market.

Indian currency will also be in focus after the rupee dropped to its lowest level in 10 months on Wednesday as persistent dollar demand from defence and oil firms weighed.

Overnight, US stocks closed in red as investors as stocks lost some of their lustre after recent gains in U.S. Treasury bond yields.

Major Asian markets were trading mixed, undermined by an overnight pullback in global equities. The Nikkei stock average opened down 1.8 percent.

Source : Equity Bulls

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