Pre-Opening Commentary: Markets indicating a flat opening ahead of RBI meet

SGX Nifty indicating a flat opening for the Indian markets.

Global markets
US: The major averages all ended the day modestly higher. The Dow rose 0.4 percent to 22,641.67, the Nasdaq edged up 0.2% to 6,531.71 and the S&P 500 inched up 5.46 points or 0.2% to 2,534.58. The strength on Wall Street reflected recent upward momentum, as traders seem optimistic about the economic outlook and the prospects for Republican tax reform.Europe closed in the green yesterday with FTSE up 0.39%, CAC up 0.32%.

In the cash market, FII’s sold 693 crores stock whereas DII’s bought 1552 crores worth of stock. In the derivative market, FII’s bought 323 crores of Index futures and bought 203  crores worth of Index options. In the stock futures segment, FII’s bought 1744 crores worth of stock futures and sold 54 crores stock options.
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