Sensex, Nifty may open in negative as US Fed hints at December rate hike

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New Delhi | Published: October 29, 2015 8:47:38 AM

The BSE Sensex and NSE Nifty are likely to open on negative note on Thursday tracking SGX Nifty and Asian markets.

BSE Sensex The BSE Sensex and NSE Nifty are likely to open on negative note on Thursday tracking SGX Nifty and Asian markets. (Express Photo)

The BSE Sensex and NSE Nifty are likely to open on negative note on Thursday tracking SGX Nifty and Asian markets. However, markets are expected to remain volatile on account of F&O expiry, as traders may roll over their position from October month contract to November month contract.

At 8.31 am, SGX Nifty was down 33 points, or 0.41 per cent at 8,146.

Asian shares edged lower and the dollar stood tall on Thursday, after the US Federal Reserve rekindled market expectations that it might still be on track to raise interest rates by year-end.

Hang Seng, Nikkei and Shanghai were down 0.40 per cent, 0.09 per cent and 0.05 per cent at 22864.15, 18885.84 and 3374.50, respectively.

Bharat Electronics, Bharat Forge, Crompton Greaves, Dishman Pharmaceuticals, Dr Reddy’s Labs and Emami are some of companies which may announce their earnings on Thursday.

Benchmark indices fell for the third straight day on Wednesday as traders awaited FOMC rate decision. Banking stocks led by Axis Bank and ICICI bank took a beating on the expiry day on reports of Axis Bank selling its loans to asset reconstruction companies at around 65 per cent discount. Sensex closed 213.68 points down at 27,039.76 on Wednesday while Nifty closed 61.70 points down at 8,171.

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