Markets may open on a subdued note tracking mixed cues from Asian peers

Karan Dsij

Indian benchmark indices are expected to open on a tepid following mixed cues from Asian peers. The trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty may open lower by 19 points at 10,523.  

Asian share markets are mixed on Tuesday. Japan’s Nikkei 225 is trading below the neutral line and the Shanghai Composite has shed 0.24%,while Hong Kong’s Hang Seng was closed for the holiday.  

Back home, extending the losing streak for a fifth straight session, Indian equity benchmarks ended Monday’s trade with a loss of about a quarter per cent. Nifty closed at 10,517 with loss of 80 points and BSE Sensex slumped 232 points to close at 34,616. The broader market witnessed brisk selling as the Nifty Mid-cap and Small-cap tumbled 1.70% and 2.46%, respectively. Among sectoral performance, Nifty PSU Bank emerged as a top gainer ending the day with gain of over 2.5%, while Nifty Realty plunged 3.29% followed by Nifty Pharma losing 2.78%.    

The US stocks surged on Monday on the back of news that the US and China might refrain from new tariffs that may have ignited a trade war. The Dow Jones Industrial Average reclaimed its important psychological 25,000-mark as it gained 1.21%, the Nasdaq gained 0.54% to close at 7,394 and the S&P 500 rose 0.74% to finish at 2,733.  

The European markets ended the first session of fresh week in the positive territory. Market participants were encouraged by news that the fear of trade war between the world’s two largest economies eased after comments from US Treasury Secretary Mnuchin that both countries are putting the trade war ‘on hold’ as they tried to reach a compromise. The CAC 40 of France gained 0.41% and the FTSE 100 of UK rose 1.03%, while the DAX of Germany was closed for the holiday.  

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