Nifty Buy Zone : Markets open lower in early trade 16/08/2016 09:28

Nifty Buy Zone : Markets open lower in early trade 16/08/2016 09:28

NIFTY Fut : Trend : BUY ZONE

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The key domestic benchmark indices opened lower in the morning trading session tracking a lackluster trend in markets across Asia.

Investors weighed mixed macro-economic data with industrial output growth gaining steam, while consumer inflation shot beyond the official tolerance level of 6 per cent, leaving little room for near-term monetary easing. 

India’s industrial output climbed 2.1 per cent in June 2016 from the same month a year ago, compared to an annual 1.2 per cent gain in May 2016. Further, retail inflation accelerated to a two-year high of 6.07 per cent in July 2016 from 5.77 per cent in June 2016. The focus this week will be on the July wholesale inflation data, while traders will keep a close eye on the progress of the monsoon rains. 

At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28122.74 down by 29.66 points or by 0.11 per cent, while the NSE Nifty was at 8670.25 points, trading lower by 1.9 points or by 0.02 per cent. 

On the global front, Asian stocks were trading mixed today as speculation rose that global central banks will continue to keep monetary policy loose and step up stimulus amid signs of lackluster economic growth.