Indian Indices:
The Indian benchmark indices are set to open higher on Tuesday despite mixed cues from the Asian peers. Indian shares look set to open Higher today. SGX Nifty is trading @ 9947 Up by 20 Points. Indexes in Asia were cautious on Tuesday after stocks stumbled and investors turned to safe haven assets.
Indian markets started the week on a weak note with Sensex correcting by 190 points & Nifty by 61 points amid rising geopolitical tensions after North Korea conducted its sixth and most powerful nuclear test Indian equity markets may open slightly higher on Tuesday. Trading of Nifty50 index futures on the Singapore stock exchange suggesting that the Nifty could rise 20 points at the opening bell.
Nifty50 index has immediate resistance around level of 9,935-9,950 and if it holds above this zone it may scale up to levels of 10,000. On the downside, support zone for the Nifty is seen around levels of 9,850 and next support is seen around levels of 9,820.
Back home, Indian benchmark indices almost washed off three days winning streak despite positive opening. Nifty plummeted amid weak Asian bourses in the wake of escalated North Korea tensions. Barring Media and Metal which closed marginally up, all other sectors ended in red territory, where, Realty index led the fall. Market bias remained highly weak with 582 advances and 1124 declines.
Global Market:
Wall Street was closed on Monday due to Labour Day. Dollar steadies after pondering N Korea headlines, US policies in focus.
Asia markets cautious despite positive Caixin services PMI as Korean Peninsula tensions weigh. Asian stock indices were trading mixed on Tuesday. The Japan’s Nikkei 225 has shed 0.56%. The Hong Kong's Hang Seng has rose 0.34%. The China’s Shanghai Composite has slipped 0.06%.
European stock markets dropped across the board Monday after North Korea conducted a nuclear bomb test
Major Headlines of the day:
Indraprastha Gas is said to win India's Karnal City Gas license.
IRB Infra starts toll collection, construction at Udaipur tollway.
American PE firm Marigold Capital agrees to acquire Leela Palace Chennai property for Rs 700 crore.
Thomas Cook in race to acquire IFCI’s 26.09 percent stake in Tourism Finance Corp.
SsangYong Motors reported a net loss of KRW18 bn in 1HCY17 led by 29.3% yoy decline in export volumes.
Trend in FII flows: The FIIs were net buyers of Rs -873.91 the cash segment on Friday while the DIIs were net sellers of Rs -49.10 as per the provisional figures.
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