INDIAN BENCHMARKS are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 29 points higher. Indian equity benchmarks are set to witness a firm opening on Tuesday tracking a positive trend across Asia as the likelihood of fresh stimulus by China eased concerns over a hard landing in the world’s second biggest economy, bolstering the appetite for risky assets. Gains in the CNX Nifty Index futures for December delivery, which climbed 0.29 per cent or 23 points at 7,921 at 10:09 am Singapore time, signal that the Sensex may open higher today.
Global Markets:
• Asian stocks were trading higher on Tuesday even as Wall Street finished on a bearish note overnight as the oil rout resumed.
• China’s Shanghai Composite bounced back after posting the biggest loss in three weeks on Monday, amidst optimism that the government’s continued cash injection to prop up the country’s stock market may help combat a lingering economic slowdown. Hang Seng and Japan’s Nikkei 225 scored mild gains.
• US stocks ended lower in thin trade on Monday dragged down by energy shares, with the Dow Jones Industrial Average falling 0.14 per cent, the Nasdaq Composite dropping 0.15 per cent while S&P 500 declining 0.22 per cent.
Major Headlines of the day:
• Aurobindo gets tentative USFDA nod for Esomeprazole Magnesium
• Lupin gets USFDA final approval for Femhrt tablets
• NBCC wins order worth Rs328 crore from NTPC JV
Trend in FII flows: The FIIs were net sellers of Rs -302.62 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 987.82 Cr, as per the provisional figures released by the NSE.
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