BSE See NSE See 48,803.68
259.62 (0.53%)

Markets may open in the red on negative global cues

Karan DSIJ
/ Categories: Mindshare, Pre Morning, Markets
Rate this article:
No rating

Key Indian equity indices may open significantly lower as the Asian markets are under pressure in early trading as also due to the overnight fall on the Wall Street. The SGX Nifty indicates that the Nifty may open at 11,012 with a loss of 54 points. 

Arvind, Coromandel International, Dabur, Equitas Holdings, Escorts, Exide Industries, HEG, ICICI Bank, L&T, NTPC, Vedanta, IDBI Bank, Jammu and Kashmir Bank, JK Lakshmi Cement, JSW Steel, Kajaria Ceramics, PVR, Reliance Infrastructure and VRL Logistics are some of the key companies to announce their results today.  

Asian markets have slid further on Wednesday taking cues from the sharp pullback in Wall Street, which reacted as the yield on the 10-year treasury note hovered around the highest level since more than three years. Japan's Nikkei 225 has lost 25 points to 23,267, Hong Kong’s benchmark Hang Seng has fallen 253 points to 32,354 and China’s Shanghai Composite has shed 19 points to 3,469.  

Back home, equity benchmark indices ended Tuesday’s trade in the red. The sentiments remained downbeat since morning as the market, after a negative start, never looked confident and the benchmarks extended their southward journey. The BSE Sensex settled at 36,034 and the Nifty closed at 11,050. The broader indices had a dismal outing as well, as Nifty Mid-cap and Nifty Small-cap fell 0.80% and 1.70%, respectively. All sectoral indices ended in the red, with Nifty Pvt Bank declining the most at 1.12%.  

Tuesday turned out to be a terrible session for the US benchmark indices as the three main benchmarks ended the day firmly in the negative territory. The Dow Jones Industrial Average plunged 363 points to close at 26,077, the Nasdaq slid 64 points to finish at 7,402 ad the S&P 500 closed 31 points lower at 2,822. The volatility on Wall Street rose to its highest level in more than five months as the CBOE Volatility Index was up at 14.57, up by 5.4%, registering its highest levels since August 18, 2017. Going ahead, market participants would be looking forward to the Federal Reserve’s monetary policy announcement on Wednesday.  

The stocks across Europe came under pressure on Tuesday as banking stocks were under heavy pressure. The dollar weakened against the euro and the British pound, ahead of the Federal Reserve announcement. Germany’s DAX lost 0.95%, CAC 40 of France shed 0.87% and FTSE 100 of the UK plummeted 1.09%.

Previous Article Godrej Consumer Products reports modest Q3FY18 result
Next Article Index trend and stocks in action January 31, 2018
Please login or register to post comments.