Thursday 24 May 2018

Nifty Likely To Open Flat; Next Support Placed At 10,240

Posted by suhani varma on Thursday, May 24, 2018 with No comments

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The Nifty50 is expected to open flat-to-positive on Thursday following muted trend seen in other Asian markets. The index closed 106 points lower at 10,430 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 26.5 points, or 0.25 percent. Nifty futures were trading around 10,447.50 on the Singaporean Stock Exchange.

US stocks ended with small gains on Wednesday after minutes from the Federal Reserve's latest meeting suggested higher inflation may not result in faster interest rate hikes, said a Reuters report.

Asian shares moved lower on Thursday as investors fretted about new setbacks in US-China trade talks, but negative sentiment was tempered by US Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates, it said.

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