Markets likely to open flat tracking mixed global cues
Chirag Gothi / 12 Apr 2016
Asian markets were mixed on early Tuesday a lower finish in U.S. equities overnight. On domestic front, A SGX Nifty 50 index future for April series traded down 10 points to 7,681. Indian markets are likely to open in the flat to negative.
Indian equities indices wiped off initial losses and gained sharply on hopes of a good monsoon, while investors widened bets on the IT sector in the last two hours of the session, ahead of the March quarter earnings, starting with Infosys. The Sensex closed above 25,000 mark; rose 348.32 points or 1.41% to 25022.16; and the Nifty climbed 116.20 points or 1.54% to 7671.40. The BSE Midcap and Smallcap indices underperformed the benchmarks, rising 1% and 0.6%, respectively. In the currency front, rupee strengthened by 10 paise to 66.37 against the dollar.
US equity markets gave up early gains on Monday and closed slightly lower as investors are looking ahead to the earnings season. The Dow Jones Industrial Average fell 20.55 points, or 0.1%, to 17556.41. The S&P 500 slid 5.61 points, or 0.3%, to 2041.99, while the Nasdaq Composite Index lost 17.29 points, or 0.4%, to 4833.40.
Crude prices rose to a four-month high ahead of a meeting of oil producers in Doha next Sunday, aimed at freezing current output levels. Brent crude was up 2.2% at USD 42.85 a barrel and WTI oil gained 1.6%, to USD 40.36 a barrel.
European stock markets finished higher Monday as a recovery in oil prices and a rally in Italian banks boosted investor sentiment. The Stoxx Europe 600 rose 0.3% to end at 332.87 after opening with a slight loss. Germany’s DAX 30 rose 0.6% to finish at 9,682.99 and France’s CAC 40 rose 0.2% to 4,312.63. The U.K.’s FTSE 100 bucked the day’s positive trend, edging lower by 0.1% to end at 6,200.12.
Asian markets were mixed on early Tuesday a lower finish in U.S. equities overnight. Japan's Nikkei stock index jumped 1.16% as the yen slipped. New Zealand’s S&P/NZX 50 Index showed minimal changes and Australia’s S&P/ASX 200 Index fell 0.60%. South Korea’s Kospi index rose 0.22%. Chinese stock market opened lower, with the Shanghai composite down 0.54%.
On domestic front, A SGX Nifty 50 index future for April series traded down 10 points to 7,681. Indian markets are likely to open in the flat to negative. Investors must keep an eye on the Index of Industrial Production (IIP) and Consumer Price Index (CPI)-based inflation data which is due for release today.
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