Markets to open on subdued note tracking muted Asian markets

Indian indices are set for a quiet start this morning as cues from Asia markets are lacklustre for now and as the US markets were closed overnight for holiday. The SGX Nifty indicates Nifty is likely to open flat at 10,957, down by 5 points. Among results to watch include Asian Paint, Havells, HDFC Life, Oberoi Realty and TVS Motor. 
  
Asian stocks are lacking clear trend on Tuesday due to lack of any major cues from the US markets, which were closed overnight for public holiday and as the IMF has slashed its global growth outlook. Hong Kong’s index Hang Seng has dipped 0.42 per cent, China’s Shanghai Composite index has shed 0.39 per cent, and Japan’s Nikkei 225 Index was almost unchanged.   
  
Back home on Monday, markets opened the session on a flat note and after a soft start, markets soon gained momentum and traded with in positive territory throughout the day. But in the last leg of trading, the gains got trimmed and the Sensex and Nifty ended the day with gains of around half a per cent each. The broader markets continued to underperform the benchmark indices and ended the day in the red with Nifty Mid-cap and Small-cap registering losses 0.79 and 0.92 per cent, respectively. On the sectoral front, Nifty Realty, Nifty PSU Bank and Nifty Auto were the top losers. On the flip side, Nifty Pharma and Nifty IT registered modest gains of 0.52 and 0.49 per cent, respectively.  
  
The US stock markets where shut on Monday in observance of Martin Luther King Jr. Day. 
  
Majority of the European markets ended in the red on Monday amid concerns about growth after data indicated China’s growth to have slowed to its slowest pace in about three decades. The DAX of Germany declined 0.62 per cent, the CAC of France ended lower by 0.17 per cent, while the FTSE 100 of the UK added 0.03 per cent.