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Market Headstart: Nifty likely to consolidate around 12,100 on the F&O expiry day

Trends on SGX Nifty indicate a flat opening for the Indian benchmark, with a 14 points, or 0.12 percent, loss

January 30, 2020 / 09:19 AM IST

The Nifty50, which reclaimed 12,100 levels on January 29, could well consolidate around these levels on January 30 amid muted trend seen in other Asian markets.

Asian stocks slipped while gold and bonds were in demand on Thursday as worries about the spread of a new virus from China sent investors heading for safety.

The Federal Reserve kept interest rates unchanged on Wednesday, as expected, although bank Chairman Jerome Powell’s comments about a low inflation outlook added to U.S. government bonds’ appeal, said a Reuters report.

Trends on SGX Nifty indicate a flat opening for the Indian benchmark, with a 14 points, or 0.12 percent, loss. The Nifty futures were trading around 12,119-level on the Singaporean Exchange.