Market to open with marginal gains

The Indian benchmark indices on Monday got off to a negative start and thereafter indices slipped lower as investors took profits off the table ahead of the key outcome of economic data – IIP and Inflation. To end with, the NSE's 50-share broadly followed the index Nifty which plunged over half a percent to settle below the crucial 9,650 mark, while Bombay Stock Exchange's Sensitive Index-Sensex shed 166 points to close below the 31,100 mark.

The European markets ended the first trading session of the new week with on a dismal note. The continued political uncertainty in the UK weighed on investor sentiment, while a dismal performance by the technology stocks also contributed to the negative mood. The DAX of Germany dropped by 0.98 percent and the CAC 40 of France fell by 1.12 per cent. The FTSE 100 of the U.K. declined by 0.21 per cent.

After moving downside in the early session, stocks remained mostly negative throughout the trading session on Monday. Technology stocks showed a significant move to the downside, pulling the Nasdaq down further off its record highs. The Nasdaq Composite Index plunged 32 points to close at 6,175. The Dow Jones Industrial Average fell 36 points to end at 21,235. The S&P 500 dipped 2 points to close at 2,429.
 
Asian shares traded mixed in the early trade on Tuesday. Japan’s Nikkei 225 has been trading with a loss of 23 points; Hong Kong’s Hang Seng has gained 84 points, while China’s Shanghai Composite has shed 2 points.
 
At 8:10 am, SGX Nifty Index traded with gains of 19 points at 9,644, indicated a flat start for Indian indices. On Monday after market hours, IIP and CPI data were released. The retail price inflation as measured by the Consumer Price Index (CPI) eased further to 2.18 per cent in May from 2.99 percent in April. The nation’s IIP accelerated to 3.1 per cent in April 2017.