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Global cues mixed; Nifty likely to open flat

Global equities trade mixed with the US markets ending lower amid wariness before earnings and FOMC meet outcome later this week. European markets pared gains ahead of earnings while Asian equities trade lower.

The News International Team

The Indian equity market is likely to open the week on a marginally weak note with the SGX Nifty, an indicator of the market opening, trading at 8066.50, down 58.50 points.

In the US, stocks fell with investors adopting a cautious approach two days before the release of minutes from the Federal Reserve’s last meeting and quarterly earnings. The federal open market committee releases minutes from its last session on Wednesday, with the Federal Reserve on track to conclude its bond purchases this month.

And in Europe, it was a positive start to the week although the German DAX pared gains following disappointing economic data from the country.

In the currency space, dollar traded flat after rising to a four-year high of 86.746 on Friday.

In commodities, crude reversed course after a massive sell-off last week and traded higher on a slump in the USD.

From precious metals space, gold prices subdued after its biggest one-day gain on sharp dollar retreat.

Meanwhile, protest in Hong Kong that started a week ago has been demanding the right to choose a candidate for the chief executive role in 2017.

Back home, Dalal Street re-opens for action after a gap of 5 days. The market ended the truncated week on a lacklustre note with the Sensex losing over 60 points while the Nifty lost nearly 20 points amid very low volumes. ( Read more )

In a bid to stay competitive while struggling with weak demand, Hewlett Packard decided to break itself into two companies – HP Inc for its personal computers and printers business and HP Enterprises for its services business.

In other news, no dearth of optimism is seen across corporate India, as a FICCI survey shows business confidence is at its highest level in almost 4 years. Another survey done by CII also points to a sharp spurt in confidence across corporates.

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