Markets likely to see lower opening

The Indian markets could open lower amid weak global cues. SGX Nifty indicates that the Nifty could open at 10,396 with a loss of 21 points at the opening bell.  

The total GST collections for the month of October 2017 fell to Rs 83,346, from about Rs 92,150 crore in the month of September 2017. The lower collection in GST can be credited to the cut in GST rates during the month of October. Also, it can be attributed to the fact that the input tax credit on GST paid in the first few months was actually claimed in October, leading to the decline in GST collections.  

Asian equity markets are struggling for direction in early trade on Tuesday. Japan’s  Nikkei 225 has edged up 51 points, Hong Kong’s Hang Seng has lost 81 points and China’s Shanghai Composite has shed 4 points. 

Back home, benchmark indices after opening gap down experienced choppy trend for the first half of trading session. However, in the last leg of the session, markets managed to recoup all losses, which helped in maintaining their uptrend for the eight consecutive day. The broader markets outperformed the benchmark indices as Nifty Mid-Cap and Small-Cap rose 0.51% and 0.61%, respectively. Sector-wise, Nifty Media topped the gainers as it surged over 2%. At the end of the day, Sensex closed at 33,724, up by 0.13%, and Nifty closed around the 10,400-mark with a gain of 0.09%.  

On the Wall Street, stocks showed lack of direction as major indices spent much of the day lingering near the neutral line before eventually closing mixed. The S&P 500 dipped 1 point to close at 2,601, Nasdaq edged down 11 points to finish at 6,879, while the Dow bucked the trend to edge up 23 points to close at 23,581.   

The European indices ended Monday’s session firmly in the red. The DAX of Germany slipped 0.46%, CAC 40 of France edged down 0.56% and FTSE 100 of the UK declined 0.35%.