Markets may open tad lower, SGX Nifty flat

Markets are likely to start on a weak note as global uncertainties will weight on the investor sentiments. The early indicator, SGX Nifty was down 3 points at 5,916 at 0720 hrs.

The Dow and S&P 500 ended lower on Tuesday, extending their recent slide to a fourth session as worries over a possible U.S. government shutdown added to investor caution.

Though uncertainty remains over the Federal Reserve’s intentions to scale back its stimulus, some of the focus for now has turned to Capitol Hill.

The Dow Jones industrial average was down 0.43 percent, at 15,335. The Standard & Poor’s 500 Index was down 0.26 percent, at 1,697. The Nasdaq Composite Index was up 0.08 percent, at 3,768.

Asian shares slipped and the dollar inched higher in early Asian trade, as concerns about a possible U.S. government shutdown and uncertainty about the U.S. Federal Reserve’s policy outlook made investors hesitant to take aggressive positions.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped about 0.1 percent, while Japan’s Nikkei stock average was down 0.2 percent.

Stocks to Watch

Financial Tech will be under pressure after the company’s auditor said the results for the year ended March should no longer be relied upon due to the crisis at group company NSEL.

Kingfisher Airlines is likely to hit the upper circuit as Vijay Mallya informed that talks are on with an investor keen on the debt-ridden carrier.

Another aviation name, SpiceJet will be in spotlight as the carrier denied it was in talks with Singapore-based low-cost airline Tigerair for a stake sale.

Jet Airways is likely to fly high as chairman Naresh Goyal will purchase over 1% stake in the airline from another promoter entity, Tail Winds, for up to Rs 45 crore.

Shipping Corporation of India might see a red tick because the company decided to shelve its plans of having shipyards due to an unfriendly business environment.

SGX Nifty

sgxnifty.org@imediaone.com

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