Indian Indices:
Indian equity benchmarks are likely to open on flat note on Tuesday as investors shrug-off Italian Prime Minister Matteo Renzi's resignation following defeat of Italy’s constitutional referendum.
The investors would also react to India Services Purchasing Managers' Index which slipped into contraction in November -- worst slump in nearly three years -- as new orders dried up and customers cut spending due to cash shortages, putting pressure on RBI to keep rates low.
The traders would also keep an eye on RBI policy review which will be announced on Wednesday.Bearish trend in the SGX Nifty Index Futures for December delivery which were trading at 8,151.00, down by 20.00 points or 0.25 per cent, at 11:10 AM Singapore time, signal that the Sensex may open flat to negative note today.
The Indian benchmark indices ended higher in choppy trade on Monday on strong buying across auto and metal space ahead of a Reserve Bank of India policy review on Wednesday.
The 30-share benchmark index closed trade at 26349.1, up by 118.44 points or by 0.45 per cent, and the NSE Nifty ended at 8128.75, up by 41.95 points or by 0.52 per cent.
Global Market:
Asian stocks were trading mostly higher, barring China’s Shanghai Composite, as investors shrug-off defeat of Italy’s constitutional referendum and shifted their focus to US monetary policy as stronger-than-expected jobs data boosting the case for the Federal Reserve interest rates hike later this month.
U.S. stocks were higher after the close on Monday, as gains in the Financials, Basic Materials and Technology sectors led shares higher. US leading from the front growth expectations on the back of huge infra spending are being touted as catalysts for equity market out-performance in 2017
SINGAPORE The euro steadied on Tuesday, having bounced back from a near 21-month low set the previous day after Italian Prime Minister Matteo Renzi's loss in a referendum over constitutional reform, an outcome that traders had widely expected.
Major Headlines of the day:
KEC International wins order worth Rs840 crore.
India's sugar production rises 17% at 27.41 lakh tonnes.
Automobile Sector Monthly Volume update: Bumpy Ride.
PMI index drops to its lowest since June 2015
Trend in FII flows: The FIIs were net buyers of Rs -317.85 Cr in the cash segment on Monday while the DIIs were net sellers of Rs -163.64 Cr, as per the provisional figures.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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