INDIAN BENCHMARKS Weak opening seen for Markets on global sell-off
The key domestic equity benchmarks are likely to open on a negative note on Tuesday tracking a bearish trend in markets across Asia and a weak finish at Wall Street
overnight as traders across the globe brace for a potential US Fed interest rate hike next month, souring risk taking appetite. SGX Nifty is trading 6.00 points lower.
Volatility may remain high at the domestic bourses as traders roll over their positions ahead of the May futures & options (F&O) expiry on Thursday.
Indian shares edged up on Monday as ITC rallied after posting stronger-than-expected March-quarter operating earnings, but broader sentiment was muted ahead of a
deluge of corporate results and the expiry of derivative contracts this week. The S&P BSE Sensex and CNX Nifty fell 0.28%-0.24% each today.
Global Markets:
- Asian shares were nearly flat in early trading on Tuesday, while the dollar rebounded from steep losses against the yen in the previous session.
- US stocks finished lower Monday, giving up early gains as the prospect that interest rates might rise as soon as next month weighed on utilities shares.
- The Greek bourse outperformed weaker European stock markets on Monday after Athens agreed a series of reforms that should pave the way for an agreement on bailout loans and debt relief talks.
Major Headlines of the day:
- VRL Logistics to start regional airline
- Tata Power Q4 net doubles to Rs360 cr.
- Torrent Pharma Q4 PAT up 175% to Rs375 cr.
Trend in FII flows: The FIIs were net sellers of Rs -65.60 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 167.77 Cr, as per the provisional figures.
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