Domestic markets are expected to open, amid negative signals from global markets. Equities, across Asia-Pacific region are down in early deal despite the US stocks ended in the green.
Gift Nifty at 19655 signals a gap down opening of about 50 points.
Analysts expect the market to remain volatile on concerns over the impact of rising oil prices on economic growth.
Weak global cues would continue to weigh on the sentiment, said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.. “We thus reiterate our view to stay stock-specific and focus more on risk management,” he added.
Market to remain volatile, ahead of monthly F&O contracts expiry on Thursday on the NSE. With FPIs selling, one can expect unwinding of long positions, said analysts.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said Markets have come under pressure in recent weeks as the US central bank hinted at more rate hikes in the future. This along with persistent selling by FIIs, rising crude prices, and a spike in bond yields dampened investors’ sentiments.
“We expect weakness to persist in the market amid cautiousness ahead of the monthly FNO expiry this week and economic data like India’s Infrastructure Output for the month of August US/UK Q2 GDP data and US/ China manufacturing PMI data to be released,” he added.