Markets may open marginal higher on positive Asian cues

Key benchmark started the week on a positive note and settled the day with decent gains. Both the BSE-Sensex and the Nifty closed at record closing high. SBI gained over 4 per cent as country’s largest lender lowered interest rate on savings bank account by 50 bps to 3.5 per cent on balance of Rs 1 crore and below. L&T advanced over 2 per cent after reporting strong numbers.

The European indices ended Monday’s session mostly in negative territory. The DAX of Germany lost 0.37 per cent and the CAC 40 of France tumble 0.74 per cent. The FTSE 100 of the U.K. gained 0.05 per cent.

U.S stocks closed mixed on Monday. The Dow scaled to another new record closing high. The Dow Jones Industrial Average rose 61 points to close at 21,891. The Nasdaq shed 27 points to close at 6,348 and the S&P 500 slipped 2 points to 2,470.

Asian equities are trading in positive territory in early trade on Tuesday. Hong Kong Hang Seng has climbed 135 points to 27,459. China’s Shanghai Composite has advanced 10 points to 3,283. Japan’s Nikkei 225 has gained 32 points to 19,957.

Indian equities may kick off August on a high note, tracking positive sentiments prevailing in the Asian markets and the SGX Nifty was trading at 10,125 up by 19 points, indicating a positive start for domestic markets. Key results to be announced today are JSW Steel, Marico, PC Jeweller, PEL and Power Grid.