Flat opening likely amid mixed cues from global peers

Markets are likely to open flat following a mixed close on the Wall Street overnight. At the time of writing, SGX Nifty was trading around 11,699 level, up with a gain of 16 points.  

Most of the Asian markets were trading with modest losses on Tuesday following a mixed close on Wall Street overnight. Hong Kong’s Hang Seng is hovering near the neutral line, while the Japanese stock market Nikkei has dipped 0.07 per cent.

Back home, Monday blues came back to haunt key equity benchmark indices as the BSE Sensex and Nifty dropped 162 points and 61 points, respectively. Traders preferred to take some profits off the table in the run-up to the corporate earnings season and polling for the general elections. The broader indices also ended the session in the red with Nifty Midcap and Small-cap falling 0.79 per cent and 0.54 per cent, respectively. On the sectoral front, Nifty IT was sole sectoral index which ended the day in the green, while Nifty Realty and Nifty PSU Bank ended as top losers.

The US stocks closed mixed on the first trading session of the week with the Nasdaq and the S&P 500 closing in positive territory, while the Dow ending with modest losses. The Dow Industrial Average dipped 0.32 per cent, while the S&P 500 index added 0.10 per cent and the tech-heavy Nasdaq closed higher by 0.19 per cent.

Majority of the European indices ended Monday in the red as Germany’s exports and imports dropped more than forecasted. Meanwhile, a separate report showed Eurozone investor confidence improved more than expected. The France’s CAC 40 slipped 0.08 per cent, the DAX of Germany declined 0.39 per cent, while the UK’s FTSE 100 edged up 0.07 per cent.