Markets may open flat to negative as globally sentiments remain cautious over earnings season

Indian benchmark indices on Monday after getting a positive start, failed to sustain at higher levels, and entered into a negative terrain. However, market tried to make an attempt to get past the intraday high in the noon session, but weak opening of European markets dragged market lower further. Finally, the NSE’s 50-share broadly followed index – Nifty plunged by around quarter per cent to settle below the crucial 9,200 level, while Bombay Stock Exchange’s Sensitive Index – Sensex took a triple digit cut and closed below the psychological 29,600 mark.The European markets ended the first session of the new trading week with mixed results. Geopolitical concerns continue to keep investors on the edge, following the U.S. airstrikes on a Syrian airbase late last week. The DAX of Germany dropped 0.20 per cent and the CAC 40 of France fell 0.54 per cent. The FTSE 100 of the U.K. declined 0.01 per cent.The U.S stocks eked out gains on Monday as energy stocks helped to ease selling pressure sparked by geopolitical concerns, but market sentiments remained cautious going into the quarter earnings season. The Dow Jones Industrial Average rose 2 points to finish at 20,658. The S&P 500 index edged up 1.62 points to close at 2,357. The Nasdaq Composite Index gained 3 points to end at 5,881.Most of the Asian markets are trading with losses on Tuesday. Japan’s Nikkei 225 slipped 89 points. Hong Kong’s Hang Seng plunged 171 points and the Shanghai Composite eked out marginal gains of 6 points.  At 8:06 am, SGX Nifty Index was trading with losses of 21.50 points at 9188.50, indicating a negative start for Indian equities. 

SGX Nifty

sgxnifty.org@imediaone.com

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