Markets may begin on a negative note amid mixed Asian cues

Markets in India are expected to open with modest losses as cues from Asian peers are mixed.  The SGX Nifty suggests that the Nifty could open lower by 20 points around the level of 11,466. The big focus will continue to be on the rupee movement. The government has asked the RBI to ramp up efforts to support the rupee.  
  
Asian markets are mixed on Tuesday. Japan’s benchmark Nikkei 225 has surged 0.96 per cent, while China’s Shanghai Composite has dipped 0.25 per cent and Hong Kong’s Hang Seng has edged down by 0.17 per cent.   
  
Back home, Indian equity markets fell heavily on the first trading session of the week, following weak cues from the global markets. The rupee continuous slide to an all-time low of 72.65 against the US dollar in intra-day trades triggered a bloodbath on Dalal Street with the BSE Sensex crashing 468 points to settle below the crucial 38,000 mark, while the NSE Nifty tanked 151 points to settle at 11,438. The broader indices ended in the red, with the Nifty Mid-cap and Small-cap tumbling 1.72 per cent and 1.23 per cent, respectively. Talking about sectoral performance, Nifty IT was the lone sector that closed unchanged, while Nifty PSU Bank and Nifty Pharma lost heavily.  
  
The US equity markets exhibited a slightly positive tone on Monday, with the S&P 500 and the Nasdaq snapping a four-day losing streak. The Dow Jones Industrial Average edged down by 59 points to 25,857, on the other hand, the S&P inched up 5 points to close at 2,877 and the Nasdaq gained 22 points to finish at 7,924.  
  
The European stocks finished Monday’s session in the green as investors shrugged off concerns over the global trade war. The DAX of Germany rose 0.22 per cent; the CAC 40 of France added 0.33 per cent and the UK’s FTSE 100 gained 0.02 per cent.