Profit

Stock Markets Likely To Open On A Flat Note

Sensex, Nifty pre-market updates: The SGX Nifty futures were last seen trading 0.50 point higher ahead of the opening of capital markets in India.

 Share
EMAIL
PRINT
COMMENTS
Stock Markets Likely To Open On A Flat Note

The Sensex ended up 10.25 points on Tuesday, after shedding 2.98% in past two sessions


Domestic stock markets are set to start Wednesday's session on a flat note, as indicated by the Nifty futures traded on Singapore Exchange. The SGX Nifty futures - an early indicator of the NSE Nifty in India - were last seen trading 0.50 point higher at 11,562.00 ahead of the opening of capital markets in India. A higher surcharge on the super rich in the Union Budget for 2019-20 has spooked non-resident and overseas funds, and erased Rs 2.3 lakh crore in market value from companies in the S&P BSE Sensex benchmark index over the past three sessions. Analysts will closely watch the macroeconomic data and quarterly earnings this week.

The Sensex ended up 10.25 points at 38,730.82 on Tuesday, after shedding 1,187.49 points, or 2.98 per cent - in the past two sessions. 

Tata Consultancy Services (TCS) shares will be in focus on Wednesday, a day after the IT company reported a net profit of Rs 8,131 crore for the quarter ended June 30, 2019, beating analysts' estimates and kicking off the earnings. TCS shares ended 2.05 per cent lower on Tuesday, underperforming the broader Sensex which ended flat, ahead of the earnings announcement by the company.

The government is due to release data on industrial production and consumer inflation on Friday. IT services major Infosys will be releasing its earnings for the quarter ended June 30 on the same day.

Equities in other Asian markets inched ahead while higher Treasury yields lifted the dollar as markets wondered if the world's most powerful central banker would confirm or confound expectations for US policy easing this month. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 per cent, after three sessions of losses.

South Korea shares climbed 0.6 per cent, but Japan's Nikkei lagged with a loss of 0.15 per cent. E-Mini futures for the S&P 500 added 0.08 per cent.

Federal Reserve Chair Jerome Powell will testify before the US Congress on Wednesday and Thursday.

Futures are still fully priced for a 25-basis-point cut at the Fed's July 30-31 meeting, but have abandoned wagers on a half-point move. They had implied a 25 per cent probability of an aggressive cut before Friday's upbeat jobs report.

Overnight on Wall Street, the Dow ended down 0.08 per cent, while the S&P 500 and the Nasdaq added 0.12 per cent and 0.54 per cent respectively.

(With inputs from agencies)



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top