Markets likely to open on a sluggish note

Indian markets are expected to open soft-to-cautious on the back of sluggish cues from Asian peers. The SGX Nifty suggests that the Nifty could open at 10,124 with loss of 37 points at the opening bell.  

Asian stock markets were trading mostly lower on Tuesday following mixed cues from Wall Street. Hong Kong’s Hang Seng has slipped 64 points, Japan’s Nikkei 225 has lost 95 points and China’s Shanghai Composite has edged down 1 point. 

Back home, equity markets ended flat on Monday after witnessing a session marked by volatility. Broader indices had a mixed outing as the Nifty Mid-Cap index rose 030%, while the Nifty Small-Cap index shed 0.74%. Sector-wise, Nifty IT led the gains, followed by Nifty PSU Banks. At the closing bell, BSE Sensex settled 37 points higher at 32,870 and Nifty gained 6 points to close at 10,128.  

The US stocks had a mixed outing on Monday with Dow reaching a new record closing, while Nasdaq and the S&P 500 ended the day in the negative terrain. The Dow Jones Industrial Average gained 59 points to close at 24,290, whereas the tech-heavy Nasdaq plunged 72 points to finish at 6,775 and the S&P 500 slipped 3 points to end the day at 2,639.  

The European indices ended Monday’s session firmly in positive territory. The DAX of Germany surged 1.53%, CAC 40 of France jumped 1.36%, and the FTSE 100 of UK climbed 0.53%.