Markets may open flat to positive surrounded by mixed global cues

Indian benchmark indices got off to a soft start, and thereafter the indices witnessed a sell-off as pessimistic sentiments prevailed across Asian markets. However, some buying interest was witnessed in the mid-afternoon session, which helped indices to recoup some of the losses. Finally, the NSE’s 50-share broadly followed index - Nifty plunged by over half a per cent to settle below the crucial 9050 support level, while Bombay Stock Exchange’s Sensitive Index - Sensex took a triple digit cut and closed below the psychological 29250 mark. 

The European markets were weak on Monday, as investors had their first opportunity to react to the failure of a Republican Bill to repeal and replace Obamacare. The DAX of Germany dropped 0.57 per cent and the CAC 40 of France fell 0.07 per cent. The FTSE 100 of the U.K. declined 0.59 per cent.

The U.S. stocks rebounded from lower levels on Monday, but the Dow Industrial and S&P 500 still closed in negative territory. The Dow Jones Industrial marked its longest losing streak since August 2011 with eight straight declines. The S&P 500 slipped 2 points. The Nasdaq Composite Index bucking the trend gained 12 points.

Most of the Asian stocks are trading in green on Tuesday. Japan’s Nikkei 225 surged over 200 points. Hong Kong’s Hang Seng surged 138 points and the Shanghai Composite slid 10 points. 

At 8:08 am, SGX Nifty Index was trading up by 24 points at 9096, indicating a positive start for Indian equities.