Markets may begin on a muted note amid negative global clues

Key benchmark indices are expected to open soft, tracking dismal cues from Wall Street and Asian markets. The SGX Nifty, which was trading down by 14 points at 11,329, indicated that domestic bourses may open with modest losses at the opening bell. Among Nifty 50 companies, Power Grid, Tata Motors, UPL and Vedanta numbers are slated today. On the macro front, the government will release infrastructure output data for the month of June.  

Asian markets are shaky on Tuesday following the negative cues from the Wall Street. The Hong Kong stock market has shed 0.64 per cent, Japan’s benchmark Nikkei 225 index has lost 0.30 per cent as investors were cautious ahead of the Bank of Japan’s monetary policy decision due later in the day, while China’s Shanghai Composite has decreased 0.28 per cent. 

Back home, Monday session turned out to be marvellous for the equity benchmarks as they extended their record-breaking spree for the third straight session. The Nifty closed above the 11,300-mark and the BSE Sensex settled just shy of 37,500 level. The broader markets continued to witness buying interest as Nifty Mid-cap and Small-cap indices ended higher by 0.11 and 0.47 per cent, respectively. Among sectoral indices, the top gainers on the NSE were Nifty PSU Bank and Nifty Pharma, while on the losing side, Nifty IT ended down by 0.67 per cent. 
 
The US stocks had a dismal trading session on Monday as all major indices ended in the negative territory. The tech-heavy Nasdaq underperformed its counterparts as it plummeted 107 points to close at 7,630, the Dow tumbled 144 points to finish at 25,307 and the S&P 500 slipped 16 points to end the day at 2,803. The sell-off on Wall Street was led by technology stocks as reflected by the particularly steep loss posted by the Nasdaq. Twitter stock plunged 8 per cent and was the worst-performing stock on the S&P 500. Going ahead, all eyes will be on the Federal Reserve’s monetary policy announcement on Wednesday.  

The European stocks closed with modest losses on Monday. The DAX of Germany lost 0.49 per cent; CAC 40 of France dipped 0.37 per cent and UK’s FTSE 100 closed almost unchanged.