Market stares at lower opening amid weak global cues

The Indian benchmark indices ended a choppy session slightly higher on Tuesday, driven by short covering and firmness in European stocks.  Select Cement stocks like UltraTech Cement, Ramco Cement, ACC, Ambuja Cements and Shree Cement were buzzing on the bourses on report that the cement companies have raised the cement prices by up to Rs 27 per 50 kg bag in Mumbai, while Coal India surged 2.9% after unveiling its production and offtake figures for the month of August. The BSE Sensex gained 107 points to close at 31,810. The Nifty advanced 39 points to finish at 9,952. 

The majority of the European stocks ended Tuesday’s session in the red. The CAC 40 of France fell 0.34% and the FTSE 100 of the UK lost 0.52%. Bucking the trend the DAX of Germany gained 0.18%.

The US’ stocks ended Tuesday’s session with deep cuts as fears over North Korea and worries about a lack of policy progress in Washington dented sentiments. The Dow Jones Industrial Average plunged 234 points to 21,753. The tech-heavy Nasdaq Composite Index declined 60 points to 6,376. The S&P 500 ended lower by 19 points to 2,458. 

On Wednesday, the Asian stock markets were trading with losses. Hong Kong’s Hang Seng has lost 251 points and China’s Shanghai Composite has plunged by 14 points. Japan’s Nikkei 225 has shed 60 points. 

The Indian stock market could see a negative opening, tracking weak cues from Asian peers. The SGX Nifty, which was trading at 9,930 down by 45 points, suggesting that indices may open with a gap-down.