Wednesday, 23 September 2015

Nifty to fall at open as China PMI sinks to over 6-year low

Indian equities are set to start off on a weak note, a day after they plunged in a late move that saw a 2 percent cut on benchmark indexes. This morning, Asian markets were already trading weak early tracking Wall Street's losses overnight, but the release of the China Caixin Flash PMI, which showed output had sunk to a six-year low, knocked off equities further. In Singapore, the SGX Nifty fell 0.7 percent, or 55 points, to 7,718. Yesterday, the Nifty swung off a top of 8,000 to end close to 7,800, throwing up multiple technical indicators that the bout of volatility seen recently hasn't ended yet.

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