Indian markets may open weak tracking SGX Nifty

Indian capital markets witnessed a bullish trend on Monday. A positive trend was seen in Indian markets for a consecutive six day rally. The Sensex increased 133.85 points or 0.49% quoting 27278.76; and the Nifty upped 42.35 points or 0.51% quoting 8370.70. All of the sectoral indices experienced positive scenario except FMCG index during entire session on Monday.

US equity markets were closed on July 4 on ‘Independence Holiday’. However, U.S. benchmark crude, WTI decreased 0.18% to USD 48.90, while Brent crude, the international standard, also reduced 0.16% to USD 50.27.

After BREXIT relief rally, European stocks were beaten down on Monday. Germany's main index, the DAX, reduced 0.69% to 9709 along with France's CAC 40, which too decreased 0.91% to 4235. Britain's FTSE 100 declined 0.84% quoting 6522.

Markets in Asia are trading with a mixed trend during the morning session on Tuesday. The Shanghai Composite index has increased by 0.31%. Japan’s Nikkei 225 index has decreased by 0.97%. Australia’s S&P/ASX 200 Index has declined by 0.84% while New Zealand’s S&P/NZX 50 Index has increased 0.50%. South Korea’s KOSPI also has increased 0.15%. The Hang Seng Index has reduced by 0.93%.

While on domestic front, A SGX Nifty index future for July series is trading down by 28 points at 8363. Meanwhile, Indian markets are likely to open weak.