Flat to negative opening likely amid mixed global cues

Flat to negative opening likely amid mixed global cues

Karan Dsij
/ Categories: Trending, Pre Morning

Indian markets may open flat to negative on Monday as cues from Asian peers are lacklustre, while the Wall Street closed mixed on Friday. The SGX Nifty suggests that Nifty may open around 10,922, down by 24 points. 
  
The Asian markets lacked a clear direction on the first trading session of the week amid mixed cues from Wall Street on Friday. Hong Kong’s stock index Hang Seng has added 0.06 per cent, while China’s Shanghai Composite index, which reopened this week after a one-week holiday, is trading marginally lower. 
  
Back home, on the last trading session of the week, key benchmark indices witnessed an intense sell-off with the BSE Sensex and Nifty crashing over a per cent, breaching their crucial levels of 36,600 and 11,000, respectively. The sentiment remained subdued since the start of the day as market participants remained suspicious of renewed concerns over the US-China trade clash. The broader markets witnessed deep cuts with Nifty Mid-cap and Small-cap plunging 1.47 per cent and 1.63 per cent, respectively. On sectoral performance, barring Nifty Realty, all other sectoral indices ended in the red with Nifty Auto and Metal leading the fall. 
  
On the Wall Street, stocks came under pressure from the opening bell on Friday, however, the stocks recovered from the lower levels to close off their worst levels of the day. The gains in the technology sector helped the Nasdaq and S&P 500 eke out modest gains, whole Dow dipped by 0.25 per cent. 
  
The European equities ended Friday’s session in the negative terrain amid signs of weaker regional growth.  The DAX of Germany lost 1.05 per cent, the CAC 40 of France ended down by 0.48 per cent and the FTSE 100 of the UK shed 0.32 per cent.

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