Flat to negative opening likely amid mixed cues from Asian peers

We might see a flat to negative opening to the session on Tuesday following mixed cues from Asian peers. The trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty may open with a modest loss of 24 points around the level of 10,589. 

Equity markets lacked direction in Asia on Tuesday. Japan’s Nikkei 225 has advanced 52 points. On the other hand, Hong Kong’s Hang Seng has slipped 10 points and Shanghai Composite has dipped 1 point.   

Back home, trading for the week kick started on a cheerful note owing to positive global cues, but it was merely a formality as markets took a complete nosedive post the gap-up opening. The key indices remained under severe pressure throughout the day and concluded the day with Nifty closing at 10,628.50 with loss of 68 points and BSE Sensex at 35,102 with loss of 215 points. Broader indices witnessed massive selling pressure once again, plunging 1.13% and 2.77%, respectively. Among the sectors, Nifty IT and Nifty Metal posted miniscule gains of 0.27% and 0.16%, respectively, while Nifty Realty slumped the most with loss of 3.33%.  

The US stocks closed higher on Monday, the Nasdaq reaching a new record closing high. The Dow Jones Industrial Average advanced 178 points to close at 24,814 and the S&P 500 rose 12 points to finish at 2,747. The Nasdaq Composite closed at record for the first time since March 12, climbing 52 points to end the day at 7,606.  

The European stocks ended Monday’s session with modest gains amid a slew of corporate news about potential mergers and acquisitions. The DAX of Germany rose 0.37%, the CAC 40 of France added 0.14% and the FTSE 100 of UK gained 0.51%.