The BSE Sensex and the broader Nifty are likely to open flat on Tuesday
tracking mixed trade across Asia. Bulls seem to have an upper hand
currently as the Nifty has gained over 300 points in the first three
weeks of this month.
Here are 10 things to know before markets open for trade:
1) Nifty futures trading on the Singapore Exchange, or SGX Nifty, were flat at 8,269, indicating a lacklustre start for domestic stock markets.
2) Asian markets were mixed. Japan's Nikkei traded higher, but markets in China and Hong Kong were down despite better-than-expected China data on Monday. "The official GDP shows growth slowed to 6.9 per cent in Q3... Unfortunately, these figures need to be taken with a pinch of salt," economists at Capita Economics wrote.
3) The Nifty will be eyeing the key resistance of 8,300 today, traders said. "A sustained move above the 8,206 (100 day moving average) will keep the upward momentum intact and Nifty is likely to move towards 8,376 (200 DMA) in near term," said Alex Mathews of Geojit BNP Paribas Financial Services.
4) The return of foreign investors has given momentum to domestic stocks. On Monday, they bought shares worth Rs 898 crore in the cash market. "FIIs have come back to the Indian market after a gap of about two months as emerging markets have stabilized after absorbing the implication of slowdown in the economies... The next level of target for Nifty should be around 8,400 level," said Vinod Nair of Geojit BNP Paribas Financial Services.
5) However, domestic investor continued to be net sellers of equities and on Monday they have sold shares worth Rs 246.26 crore.
6) Second quarter earnings of major blue-chip companies like Hero MotoCorp and ACC are likely to dictate the direction of Sensex and Nifty, traders said.
7) Shares Hindustan Zinc are likely to open gap on strong Q2 numbers. Other mid-cap companies like SKS Micro, BlueStar, Gati are likely to react to their earnings.
8) Midcap companies like Biocon, Federal Bank, Bajaj Finserv and SBBJ will also report their quarterly earnings today.
9) Lower global commodity prices are likely to pressure commodity-based companies like, Tata Steel, Vedanta, JSW Steel today.
10) Overnight, a late recovery helped US stocks end flat on Monday. Gains in tech shares helped offset losses in energy shares.
Here are 10 things to know before markets open for trade:
1) Nifty futures trading on the Singapore Exchange, or SGX Nifty, were flat at 8,269, indicating a lacklustre start for domestic stock markets.
2) Asian markets were mixed. Japan's Nikkei traded higher, but markets in China and Hong Kong were down despite better-than-expected China data on Monday. "The official GDP shows growth slowed to 6.9 per cent in Q3... Unfortunately, these figures need to be taken with a pinch of salt," economists at Capita Economics wrote.
3) The Nifty will be eyeing the key resistance of 8,300 today, traders said. "A sustained move above the 8,206 (100 day moving average) will keep the upward momentum intact and Nifty is likely to move towards 8,376 (200 DMA) in near term," said Alex Mathews of Geojit BNP Paribas Financial Services.
4) The return of foreign investors has given momentum to domestic stocks. On Monday, they bought shares worth Rs 898 crore in the cash market. "FIIs have come back to the Indian market after a gap of about two months as emerging markets have stabilized after absorbing the implication of slowdown in the economies... The next level of target for Nifty should be around 8,400 level," said Vinod Nair of Geojit BNP Paribas Financial Services.
5) However, domestic investor continued to be net sellers of equities and on Monday they have sold shares worth Rs 246.26 crore.
6) Second quarter earnings of major blue-chip companies like Hero MotoCorp and ACC are likely to dictate the direction of Sensex and Nifty, traders said.
7) Shares Hindustan Zinc are likely to open gap on strong Q2 numbers. Other mid-cap companies like SKS Micro, BlueStar, Gati are likely to react to their earnings.
8) Midcap companies like Biocon, Federal Bank, Bajaj Finserv and SBBJ will also report their quarterly earnings today.
9) Lower global commodity prices are likely to pressure commodity-based companies like, Tata Steel, Vedanta, JSW Steel today.
10) Overnight, a late recovery helped US stocks end flat on Monday. Gains in tech shares helped offset losses in energy shares.
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