The Indian stock markets are expected to witness weak start on Dalal Street as the global cues look mixed. SGX Nifty is trading 16 points higher.
Events for the day:
HSBC/Markit Services PMI
Headlines for the day:
MTNL chalks out roadmap to become profitable by 2017-18
Spice bets on clean image, technology to get bank licence
Lanco trims 4,000 employees due to slowdown
The Indian equities are set to start today’s trading session in the red zone led by fears of military tensions in the Middle East that roiled global markets. SGX Nifty is trading 16 points higher.
On Tuesday (September 03, 2013), the S&P BSE Se nsex shed 651.47 points to close at 18234.66 while Nifty slipped 209.30 points to end at 5341.45.
Asian stocks faltered on Wednesday, while oil and gold held on to overnight gains after President Barack Obama clinched the backing of two key figures in Congress in his drive for limited U.S. strikes on Syria.
European stocks’ week-long rally paused on Tuesday, renewed worries over Syria overshadowing a 34% surge in Nokia after Microsoft agreed to buy the Finnish firm’s phone business.
US stocks rose on Tuesday but were far off session highs after top Republicans voiced support for U.S. President Barack Obama’s call for military strikes against Syria.