Nifty to open a tad lower, ECB's Mario Draghi disappoints markets
Indian Market Outlook:
India's benchmark Nifty is expected to open gap down despite strong closing yesterday at 8975. ECB President Mario Draghi has failed to match the expectations of the market, however the overall trend of the market is a buy, but marginal correction on the downside can set in. Nifty's support lies is at 8850 thus markets can retest to those levels. Yes Bank had to defer its QIP yesterday as the stock was down by over 5 percent and went below the QIP price. Nifty was supported yesterday by PSU banks and Auto shares, while IT and private sectors banks were a drag.
Nifty Futures is expected to open at 8953 as per SGX Nifty at 8:50 am IST, which is below its previous close of 8976.