Stock markets likely to open negative

Domestic equity markets are likely to open in red tracking SGX Nifty on the Singapore Stock Exchange.

At 8.48 am (IST), SGX Nifty was trading 1.42 per cent lower than its previous close.

A research report by Maximus Securities said, "Trading of Nifty futures on the Singapore stock exchange indicates that CNX Nifty on the National Stock Exchange could fall 118 points at the opening bell."

Asian markets were trading lower, Nikkei 225 index and Hang Seng index were down 1.78 per cent and 2.20 per cent to 20,337.34 and 26,077.25, respectively.

US markets were mixed as investors kept close tab on the progress of Greece's negotiation with its creditors.

On Friday, the key benchmark index BSE Sensex slid 84.13 points, or 0.30 per cent, to 27,811.84. The NSE Nifty index also declined 16.90 points, or 0.20 per cent, to 8,381.10.

Markets Today
According to Angel Broking, the trend deciding level for the day is 27,803 / 8,376 levels. If CNX Nifty on the National Stock Exchange trades above this level during the first half-an-hour of trade then we may witness a further rally up to 27,931 - 28,050 / 8,413 - 8,445 levels. However, if the index trades below 27,803 / 8,376 levels for the first half-an-hour of trade then it may correct towards 27,684 - 27,556 / 8,344 - 8,308 levels.