The 50-share Nifty index is expected to open lower on Monday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological level of 7,900-7,950 levels in trade today. At 08:00 A.M., Nifty India stock futures in Singapore were trading 61 points lower at 7,907 indicating a gap down opening on the domestic market.
Benchmark indices on Friday showed some signs of relief as the US Fed adopted status quo on policy rate. Nifty jumped 2.4 per cent for the week. Movement of index in near term will depend on crude oil prices, movement of rupee against dollar, global market sentiments, say experts. It is likely to remain volatile ahead of expiry of derivative contracts on 24th September. Nifty Future has given closing at 7965 with the net weekly gain of 175.65 points.
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