Indian stocks signal cautious start

The Indian stock markets are expected to witness volatile start on Dalal Street as the global cues looked mixed. SGX Nifty is trading 10 points higher.

Events for the day:

HSBC/Markit Manufacturing PMI

Headlines for the day:

Mahindra & Mahindra August sales down 17.32%

TVS Motor total sales in August up 0.57% at 1,55,532 units

LIC’s PSU stake buy ‘loss’ at Rs3,000 cr

FIIs pull out $ 2.5-bn in Aug from Indian capital mkts

RCF to invest Rs1,000 crore for Talcher fertiliser project

Indian Indices:

The Indian equities are set to start the first trading session of the September month on a cautious note as the global cues look mixed. SGX Nifty is trading 10 points higher.

Investors will remain cautious tracking weak domestic and global environment and the recent volatility in rupee. Markets may react to the economic growth data that was announced post market hours on Friday. The movement of rupee and foreign fund flows would drive the stock market this week.

On Friday (August 30, 2013), the S&P BSE Sensex wrapped trade at 18619.72, up by 218.68 points while the NSE Nifty rose 62.75 points to settle at 5471.80.

Global Indices:

Asian shares climbed to a two-week high on Monday, and the Australian dollar and copper gained, as China said its manufacturing expanded in August at the fastest pace in more than a year.

European shares hit a six-week closing low on Friday as reduced chances of an immediate military strike on Syria weighed on energy equities due to weakened oil prices, although longer-term market outlook stayed bright.

Wall Street shares fell on Friday to mark their steepest decline since May 2012 amid uncertainty over the possibility of U.S.-led military intervention in the Syrian conflict.

SGX Nifty

sgxnifty.org@imediaone.com

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