Markets are looking a little tired
In the last trading sessions, the BSE Sensex recorded a fresh all-time high, whereas, the Nifty attempted to reclaim the magical figure of 12,000 mark. However, the 12,000 mark on the Nifty remained a far-fetched dream. In the overnight trade on Wall Street, all three major indices touched record highs but there is not much from Asian peers to drive the market today. The SGX Nifty is trading 18 points down at present and this indicates the insipid trades that could characterize today’s markets. Berger Paints, Tech Mahindra, Titan, Dabur, Punjab National Bank, and Gillette India are some of the prominent names to declare their financial results for the September quarter today. Market participants will take cues from Service PMI for October, which is due to be released today.
On the Asian side, the markets are trading mixed on Tuesday. Japan’s Nikkei 225 is leading the region with an increase of 1.49 per cent, post the return from a Monday holiday. Meanwhile, Hong Kong’s Hang Seng and China’s Shanghai Composite are trading with minuscule losses of 0.10 and 0.02 per cent, currently
Back home, key equity indices extended their winning streak for the seventh session in a row on Monday; however, it closed off day’s high, as profit-taking emerged at higher levels. During the day, the BSE Sensex logged fresh all-time high levels and closed at record high level of 40,302, whereas, the Nifty closed at 11,941 mark, up by 0.43 per cent. On the sectoral front, Nifty Metal and Nifty IT were the top two gainers and Nifty Media and Nifty Auto were the top losers.
In overnight developments, adding to last Friday’s rally, the US market finished the first trading session of the week in positive terrain and notching new record highs along the way, amid continued optimism on the US-China trade front and eased concerns about Q3 earnings season. At the end of the sessions, the Dow advanced 0.4 per cent, the tech-heavy NASDAQ rose 0.6 per cent, and the S&P 500 climbed 0.4 per cent. The European markets were seen upbeat, with the German Dax jumping 1.4 per cent, the French CAC 40 surging 1.1 per cent, and the UK’s FTSE index rising 0.9 per cent.