INDIAN BENCHMARKS are likely to open on a flat to negative note as the global cues look mixed with SGX Nifty trading 6.50 points lower.
Asian stocks fell led by losses in health care stocks as traders stuck to a cautious tone ahead of key US reports on employment, manufacturing, housing, consumer confidence and Fed Chair Janet Yellen’s speech this week, which may offer further clues over the course of US interest rates.
China’s Shanghai Composite dropped for a second straight day led by losses in technology and property companies as Shenzhen also introduced real estate curbs last week, joining Shanghai.
Hang Seng was trading with slim losses as it reopened after the Easter break and Japan’s Nikkei 225 retreated amidst mixed economic data as a rise in household spending was accompanied by an increase in the country’s jobless rate.
Wall Street ended little changed on Monday as traders assessed mixed US economic data which showed that consumer spending barely rose in February but contracts to purchase US existing homes rebounded.
Household spending in the US climbed by 0.1 per cent for a third straight month in February while the index measuring pending home sales rose 3.5 per cent in February over the prior month, the biggest gain in a year.
The Dow Jones Industrial Average climbed 0.11 per cent; the Nasdaq Composite fell 0.14 per cent while S&P 500 rose 0.05 per cent.
Major Headlines of the day:
1. Ashok Leyland sells 0.55% stake in Indusind Bank for Rs300 cr
2. Cadila Healthcare acquires 'Actibile’ from Albert David for Rs55 Cr
3. LIC ups stake in IDBI Bank to 14.3%
Trend in FII flows: The FIIs were net sellers of Rs -2042.94 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 2494.44 Cr, as per the provisional figures released by the NSE.