Markets expected to start on a negative note

The domestic markets are expected to make a soft start as leads from Asian peers are mostly negative. The trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty may open with a loss of 21 points around the level of 10,653.  

Majority of the Asian markets are trading lower on Tuesday. Japan’s Nikkei 225 is trading lower by 0.89%, Hong Kong’s Hang Seng has slipped 0.47% and the Shanghai Composite remained almost unchanged.  

Back home, Indian equity benchmarks rose for the third day in a row, taking respite from further decline in the crude oil prices. The BSE Sensex settled at 35,165 with gains of 241 points and Nifty closed at 10,689, higher by 84 points. Most of the sectoral indices, barring Nifty IT, traded in tandem with the benchmark indices, posting decent gains with Nifty PSU Banks and Nifty Pharma topping the gainers list. In the broader market, both the Nifty Mid-cap and Small-cap indices outperformed their major counterparts, posting gains of 1.41% and 1.73%, respectively.  

The US markets stayed closed on Monday on account of Memorial Day.   

The European stocks closed slightly lower on Monday. The DAX of Germany lost 0.58% and the CAC 40 of France fell 0.61%. The FTSE 100 of UK was closed for the spring bank holiday.