Friday, 11 September 2015

Global cues mixed, but positive Nifty opening seen

The Indian equity market is expected to open in the green on a positive global backdrop. The SGX Nifty, an indicator of the market opening, was trading at 7842.00, up 21.50 points at 7:40. Back home, a late rally helped Dalal Street with the Nifty recovering over 150 points from the day's low to end with marginal losses. Globally, Asian markets traded lower in early trade as investors eye increased uncertainty heading into the US Federal Reserve's meeting next week. The Fed is widely expected to raise its near-zero interest rate as early as next week amid improving economic fundamentals in the US. But an abrupt devaluation of the yuan by Chinese authorities in August and renewed turmoil in global markets has had some market watchers paring back their forecasts.

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