Markets to remain subdued; US Jobs data eyed

Indian markets gave up their three days' winning streak where the benchmark indices closed on a flat to negative note post range bound volatility. What remained in the limelight was Reliance Industries’ 42nd AGM meet introducing Jio tariff plans that led to a huge sell-off in the Telecom stocks Bharti Airtel and Idea Cellular. Reliance too broke down to close lower.
 
European markets were a mixed bag where sentiments were led by China’s PMI data and the US jobs data to be announced later. Meanwhile UK's manufacturing PMI was out, which landed again in the expansion zone of above 50 at 53.3 in August as against 48.3 in July. However, weak performance from Energy, Utility and Industrial stocks weighed on the markets. DAX tumbled 0.55%, and the CAC-40 remained flat. FTSE 100 too dropped 0.52 per cent.
 
US markets strived to recover but remained subdued ahead of the jobs data that is to be released on Sept 02. U.S. crude settled 3.45 percent lower at $43.16 a barrel. Dow Jones surged 0.1 per cent, S&P500 remained absolutely flat while Nasdaq rose 0.27per cent.
 
Asian markets are mixed where investors remain vary of the non-

farm payroll data from US. Nikkei 225 is flat to negative. Hang Seng has gained half a percent continuing its monthly breakout in the previous session. Shanghai composite is marginally up with 0.29 per cent gains. Australia’s S&P/ASX 200 is 0.68 per cent down weighed down by Energy and Finance sector stocks; while New Zealand’s S&P/NZX 50 is 0.11 per cent down. South Korea’s KOSPI is flat despite a reversal GDP data that grew by 0.8 per cent.
 
On the whole, Indian markets have ended previous session in consolidation. Markets may open on a flat to negative note but may remain within the range during the session. SGX Nifty is trading flat to negative at 8812 levels.