Indian equity markets have had three days of sideways movement but the S&P BSE Sensex and NSE Nifty 50 closed at a new record high despite modest gains on Monday.
Futures, however, are indicating that the indices may open with a negative bias in today’s session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.35% to 13,543 as of 7:50 a.m. on Tuesday.
Canara Bank and Punjab National Bank continue to remain in the F&O ban. Sectoral indices like metals, which ended at a two-year high on Monday, and FMCG, which hit another record high on Monday, will remain in focus.
Most Asian markets are declining this morning after a mixed overnight session on Wall Street. Benchmark indices in Japan, South Korea, Australia and China are trading lower.
Futures on the Dow Jones are trading higher by 50 points but are off the session’s highs. The index fell 0.6% on Monday. The S&P 500 fell for the fourth straight day, clocking its longest losing streak since September.
West Texas Intermediate crude fell 0.4% to $46.81 per barrel, while gold was flat at $1,827/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.