INDIAN
BENCHMARKS Markets may open lower amid mixed Asia trend
The key domestic benchmarks are likely to witness a gap down
opening on Tuesday as investors resort to profit booking after a stellar rally
in the previous session while a mixed trend in stock markets across Asia amid
weakness in commodity prices may also sour the appetite for risky assets. SGX
Nifty is trading 33.50 points lower.
The focus today will be on the stock of Punjab & Sind Bank as
the public sector lender unveils its March quarter earnings numbers, with
investors keenly eying the Gross and Net NPA levels.
Caution ahead of key macro data to be released on Thursday
including March industrial output and April consumer inflation may also weigh
on sentiment.
Indian shares rose by 2%, posting their biggest single-day
percentage gain in nearly four weeks, as a recent string of positive corporate
results raised tentative hopes about an improving domestic economy. The S&P
BSE Sensex and CNX Nifty ended 1.82%-1.71% higher each.
Global Markets:
Asian shares got off to a weak start on Tuesday, pressured by
weaker crude oil prices, though Japanese shares got a tailwind as the dollar
stood tall against the yen.
US stocks ended mixed on Monday as traders weighed dismal China
trade data, tumbling oil prices and prospects for increases in US interest
rates but sentiment was supported by a rally in health care and consumer stocks
European stock markets gained on Monday, but closed off their best
levels after oil prices turned negative.
Major Headlines of the day:
Tata Steel takes seven potential bids for UK assets to next stage
of sale process.
Sun Pharma launches app for asthma patients.
ONGC crude oil output up in FY16.
Trend in
FII flows: The FIIs were net sellers of Rs -224.40 Cr in the
cash segment on Monday while the DIIs were net buyers of Rs 350.60 Cr, as per the
provisional figures.
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