Early trends on SGX Nifty suggested a positive start for the headline indices Sensex and Nifty on Tuesday. Nifty futures were trading 39.10 points or 0.34 per cent higher at 11,473 on Singaporean Exchange
Markets usually see such volatile swings during the consolidation phase and it’s no different this time
Domestic equity market benchmarks BSE Sensex and Nifty 50 are likely to open on a positive note on Tuesday. The headline indices started the week with losses. Sensex ended 97 points lower at 38,756.63 while the Nifty 50 slipped below the crucial 11,450 mark and closed at 11,440. Market participants will keenly watch the two-day meeting of the Federal Open Market Committee (FOMC) beginning today. Besides, investors would also track the developments around the Covid-19 vaccine and UK vote on Brexit. Markets are likely to react to India’s August CPI reading which stood at 6.69 per cent as compared to July revised figure of 6.73 per cent. “Markets usually see such volatile swings during the consolidation phase and it’s no different this time. We reiterate our bullish yet cautious approach on markets and suggest accumulating quality stocks on dips. We’re still seeing several themes playing well so traders should align their positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
SGX Nifty in green: Early trends on SGX Nifty suggested a positive start for the headline indices Sensex and Nifty on Tuesday. Nifty futures were trading 39.10 points or 0.34 per cent higher at 11,473 on Singaporean Exchange.
FII and DII data: On Monday, foreign institutional investors (FIIs) bought shares worth Rs 298.22 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 120.35 crore on a net basis, according to the provisional data available on the NSE.
Bulk and block deals on BSE, NSE: JP Morgan Funds bought over 16.28 lakh shares of HDFC at an average price of Rs 1768.2 apiece. The shares were sold by Flagship India Investment Company (Mauritius) Ltd. In addition, JP Morgan Funds also bought 1.26 lakh shares of UltraTech Cement at Rs 3,896.9 apiece.
Global watch: Asian stock markets were trading mixed in Tuesday’s session. In Japan, the Nikkei 225 slipped 0.8% while the Topix index shed 0.93%. South Korea’s Kospi was slightly higher. In overnight trade on Wall Street, US stocks ended sharply higher. The Dow Jones Industrial Average rose 1.18 per cent, the S&P 500 gained 1.27 per cent and the Nasdaq Composite added 1.87 per cent.
Markets usually see such volatile swings during the consolidation phase and it’s no different this time
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
