Negative opening likely amid mixed cues from Asian peers

Indian shares may open lower on Tuesday, tracking mixed cues from Asian markets. The SGX Nifty Index Future indicates that Nifty may open lower by 54 points around the level of 10,593.   
  
Asian stocks shrugged off the sparkle on the Wall Street as the stocks traded mixed on Tuesday. Hong Kong’s Hang Seng has lost 0.46 per cent, while the Japanese stock market Nikkei 225 added 0.20 and China’s Shanghai Composite index has gained 0.09 per cent.  
  
Back home, equity benchmarks snapped their three-day losing streak on Monday and reclaimed their important psychological levels of  10,600  (Nifty) and 35,350 ( Sensex). The broader indices underperformed the frontline indices as Nifty Mid-cap registered miniscule gain of 0.19 per cent, while Nifty Small-cap ended with modest loss of 0.22 per cent. Among the sectoral indices, Nifty Metal and Nifty Pharma ended as top losers, while Nifty FMCG and Nifty Bank gained the most.  
  
The US equities opened higher on Monday and managed to make further advance as the day progressed. At the closing bell, the Dow Jones Industrial Average jumped 1.46 per cent, the S&P 500 gained 1.55 per cent and the tech-heavy Nasdaq soared 2.06 per cent. All of the major sectors managed to register gains, with technology, consumer and financial sectors leading from the front. Going forward, market participants are looking forward to the meeting between President Trump and China’s President Xi Jinping at the end of this week to discuss trade matters.  
  
The European equities posted solid gains on Monday as investors cheered fresh progress related to the UK’s withdrawal process from the European Union (EU) and Italy’s budget deficit standoff appeared to be near a resolution. The DAX of Germany advanced 1.45 per cent, the CAC of France increased 0.97 per cent, while the UK’s FTSE 100 rallied 1.20 per cent.