Markets likely to start on a flat note

Karan Dsij
/ Categories: Trending, Pre Morning, Markets

Indian markets are likely to make a flat to marginally positive start. The SGX Nifty indicates that the Nifty could open around 10,645 levels with gains of 6 points at the opening bell.   

Most of the Asian markets are trading with gains in the early deals following overnight gains in the US. Hong Kong’s Hang Seng has added 61 points, China’s Shanghai Composite edged up 10 points, whereas Japan’s Nikkei index has lost 54 points.  

Back home, markets ended with minor change on Tuesday after hitting record highs as markets took a breather and profit-booking was seen after a good run-up. Profit booking was seen in broader indices too, but these indices underperformed the benchmark indices. Nifty Mid-Cap and Small-Cap index dipped 0.12% and 0.06%, respectively. Sector-wise, Nifty Realty displayed strong performance as it surged 2.81%, whereas Nifty Media lost 1.23%. At the end of the day, Nifty closed at 10,637, up by 13 points, and the BSE Sensex added 90 points to close at 34,443.  

In the US, major averages eked out modest gains on Tuesday, extending their recent streak of gains which is taking all major benchmarks to new record closing highs. The Dow Jones Industrial Average surged 103 points to settle at 25,386, the Nasdaq inched up 6 points to close at 7,164 and the S&P 500 rose 4 points to finish at 2,751.  

The European markets scaled higher on Tuesday. Sentiments improved with some strong economic data from Germany. The DAX of Germany inched up 0.13%, CAC 40 of France surged 0.67% and FTSE 100 of the UK finished higher by 0.45%.   

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