Stock market likely to open flat with positive bias

By: | Updated: August 5, 2015 8:44 AM

Domestic equity markets are likely to open flat with positive bias tracking SGX Nifty and other Asian markets.

sensex and niftyOn Tuesday, the BSE Sensex and the NSE Nifty dipped 0.41 per cent and 0.31 per cent to 28,071.93 and 8,516.90, respectively.

Domestic equity markets are likely to open flat with positive bias tracking SGX Nifty and other Asian markets.

At 8.24 am (IST), SGX Nifty was trading 0.13 per cent higher than its previous close.

Asian share markets were in a mixed mood on Wednesday as the mounting risks of a hike in US interest rates as early as next month lifted the dollar and bond yields, pressuring currencies across the region. Nikkei 225 index and Hang Seng index were up 0.79 per cent and 0.38 per cent at 20,682.66 and 24,498.78, respectively. Shanghai were trading down 0.36 per cent at 3,742.

Chandan Taparia,derivative and technical analyst, Anand Rathi Securities said, “NSE Nifty may head towards 8560 and 8600 levels. However, in the absence of buying interest it may go down towards 8,440. Housing finance, banking, selective metals , tyres and auto stocks are likely to outperform the market on August 5.”

On Tuesday, the BSE Sensex and the NSE Nifty dipped 0.41 per cent and 0.31 per cent to 28,071.93 and 8,516.90, respectively.

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