Markets may open in the red following negative cues from Asian peers

Indian markets are likely to open with modest losses as cues from Asian peers are negative. The SGX Nifty Index Future was trading at 10,928, down by 10 points.  
  
Asian shares are trading lower on Tuesday despite positive cues from the Wall Street overnight, as market participants turned alert amid doubts over whether the US and China will settle their trade war before the 90-day timeline. The Japanese stock market Nikkei 225 has shed 0.70 per cent, Hong Kong’s Hang Seng has dipped 0.23 per cent and China’s Shanghai Composite Index has edged down by 0.19 per cent.  
  
Back home, frontline indices saw a stronger opening on the back of strong cues prevailing in the global market. However, in the noon session, frontline indices turned volatile shedding most of the morning gains and finally ended the session flat. The Nifty closed at 10,884, up by 0.06 per cent, and the BSE Sensex added 0.13 per cent to close at 36,241. The broader indices outperformed the benchmark indices with Nifty Mid-cap and Small-cap surging 0.72 and 0.85 per cent, respectively. Talking about the sectoral performance it was mixed show with Nifty Realty and Nifty Metal registering gains of over 2 per cent each, while Nifty Pharma ended as top loser, shedding 2.40 per cent.   
  
The US markets witnessed a marvellous start on Monday and managed to maintain much of their gains throughout the day amid the constructive weekend meeting between the US President Trump and China’s President Xi, at the G20 summit, which  may well pave the way for further progress. In the economic news, the ISM index rose to a reading of 59.3 in November way ahead of expectation. On the other hand, construction spending unexpectedly edged lower in October. The Dow Jones Industrial Average surged 1.13 per cent, the S&P 500 climbed 1.09 per cent and the tech-heavy Nasdaq soared 1.51 per cent.  
  
The European indices rallied on Monday after developments on trade between the US and China at the G20 summit in Argentina over the weekend. The DAX of Germany jumped 1.85 per cent, the CAC of France rose 1 per cent and the UK’s FTSE 100 gained 1.18 per cent.