Positive opening likely amid hopes of Sino-US trade deal

After a scary sell-off in the last trading session, the early indication suggests a smiling start for the Indian markets as market participants interpreted the US President Donald Trump's tweets as a bargaining tactic and expressed confidence in an eventual trade agreement. At the time of writing SGX Nifty was trading up by 33 points at 11,689 level. ABB, CEAT, Escorts and VEDL are some of the key results scheduled for the day. 

A majority of the Asian markets are seen trading in the green on Tuesday after the US stocks managed to recover some ground in overnight trade. The Nikkei 225 has lost 0.85 per cent as the Japanese stock indices returned to trade following an extended holiday period. China's Shanghai Composite index, which had plummeted more than 5 per cent on Monday, has gained about a per cent and Hong Kong's Hang Seng has risen 0.89 per cent. 

Back home, Monday turned out to be disastrous day for the equity benchmark indices as they registered their worst day in two weeks as US-China trade concerns resurfaced. After opening the session with a gap-down, weakness persisted throughout the session and the key benchmark indices registered cuts of almost one per cent. The broader markets ended the session in the red too, with Nifty Midcap and Smallcap losing 0.74 per cent and 0.94 per cent, respectively. Talking about sectoral performance, barring Nifty IT, all other indices witnessed selling pressure. Nifty Media and Nifty Metal lost over 2 per cent.

On the Wall Street, major indices opened the session dramatically lower as market participants turned jittery over reports that the trade negotiations between the world's two largest economies US and China might be souring. However, the stocks did manage to bounce back from the lower levels. In the end, Dow Industrial Average slipped 0.25 per cent, the S&P 500 shed 0.45 per cent and the tech-heavy Nasdaq dipped 0.50 per cent.

European markets ended Monday's session sharply lower following US-China trade concerns resurfacing in the series of tweets from the US President Donald Trump threatening increased tariffs on Chinese goods. Meanwhile, the Eurozone Sentix Investor Confidence rose to 5.3, improving strongly to its highest level since November.  The Germany's benchmark DAX and the France's CAC 40 Index tumbled by 1.01 per cent and 1.18 per cent, respectively. The UK markets were closed on the day.