 "US Fed meet to keep mood in check; IndiGo IPO opens today")
Markets are likely to trade in a range today with a negative bias following weak global cues. Investors will also remain cautious ahead of the US Federal Reserve’s (US Fed’s) two-day policy meeting which begins on Tuesday and will look for cues as to when it may begin raising rates.
At the domestic level, corporate results and the upcoming futures & options (F&O) expiry on Thursday will also keep sentiment in check.
Also Read: InterGlobe Aviation to hit markets tomorrow with Rs 3,018 crore IPO
Benchmark share indices ended lower amid profit booking in late trades on Monday, weighed down by index heavyweights while gains in capital goods and auto shares helped capped further downside.
The 30-share Sensex ended down 109 points at 27,362 and the Nifty dipped 35 points to close at 8,261. In the broader markets, BSE Mid-cap and Small-cap indices ended down 0.5-0.7% each. Markets breadth ended weak with 1,727 losers and 983 gainers on the BSE.
"The much awaited news from ECB and China - People’s Bank of China, were in line with expectation and is set to increase the liquidity in the economies. Emerging Markets have already moved in line with the expectation to a 1 month high. Now the focus will shift to the probable Fed action which is expected in Dec, hence volatility cannot be avoided. In India, there is a lack of any trigger due to mixed Q2FY16 results and ongoing Bihar election," said Vinod Nair, head of fundamental research, Geojit BNP Paribas Financial Services.
GLOBAL MARKETS
Asian share markets paused for breath on Tuesday after a four-week romp higher, as investors took cover ahead of central bank meetings in the United States and Japan later in the week.
Moves were modest with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.07%. Japan's Nikkei dipped 0.1%, though remained near a two-month high. Risk sentiment remained supported by China's rate cut last week and the prospect of more easing from the European Central Bank in December.
There has been speculation the Bank of Japan might expand its asset buying campaign at a policy meeting on Friday, though recent reports make it less likely. Even less is expected from the US Fed when it meets on Tuesday and Wednesday.
On Wall Street, the Dow ended on Monday with a minor loss of 0.1%, while the S&P 500 eased 0.2% and the Nasdaq added 0.1%.
The euro regained just a little ground to $1.1054, having touched an 11-week trough of $1.0987 on Monday. Against the yen, the dollar eased back to 120.86 from Monday's top around 121.51. US crude was quoted down 11 cents at $43.87 a barrel, while Brent eased 2 cents to $47.52 a barrel.
with Reuters inputs
At the domestic level, corporate results and the upcoming futures & options (F&O) expiry on Thursday will also keep sentiment in check.
Also Read: InterGlobe Aviation to hit markets tomorrow with Rs 3,018 crore IPO
Also Read
IndiGo's parent InterGlobe Aviation will hit the capital markets today to raise Rs 3,018 crore through its initial public offering. The operator of the profitable no-frills carrier IndiGo has set a price band for the public offer at Rs 700 - 765. On Monday, IndiGo raised Rs 832 crore from 43 anchor investors, ahead of its Initial Public Offering (IPO) of equity. CLICK HERE FOR THE STORY
Benchmark share indices ended lower amid profit booking in late trades on Monday, weighed down by index heavyweights while gains in capital goods and auto shares helped capped further downside.
The 30-share Sensex ended down 109 points at 27,362 and the Nifty dipped 35 points to close at 8,261. In the broader markets, BSE Mid-cap and Small-cap indices ended down 0.5-0.7% each. Markets breadth ended weak with 1,727 losers and 983 gainers on the BSE.
"The much awaited news from ECB and China - People’s Bank of China, were in line with expectation and is set to increase the liquidity in the economies. Emerging Markets have already moved in line with the expectation to a 1 month high. Now the focus will shift to the probable Fed action which is expected in Dec, hence volatility cannot be avoided. In India, there is a lack of any trigger due to mixed Q2FY16 results and ongoing Bihar election," said Vinod Nair, head of fundamental research, Geojit BNP Paribas Financial Services.
GLOBAL MARKETS
Asian share markets paused for breath on Tuesday after a four-week romp higher, as investors took cover ahead of central bank meetings in the United States and Japan later in the week.
Moves were modest with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.07%. Japan's Nikkei dipped 0.1%, though remained near a two-month high. Risk sentiment remained supported by China's rate cut last week and the prospect of more easing from the European Central Bank in December.
There has been speculation the Bank of Japan might expand its asset buying campaign at a policy meeting on Friday, though recent reports make it less likely. Even less is expected from the US Fed when it meets on Tuesday and Wednesday.
On Wall Street, the Dow ended on Monday with a minor loss of 0.1%, while the S&P 500 eased 0.2% and the Nasdaq added 0.1%.
The euro regained just a little ground to $1.1054, having touched an 11-week trough of $1.0987 on Monday. Against the yen, the dollar eased back to 120.86 from Monday's top around 121.51. US crude was quoted down 11 cents at $43.87 a barrel, while Brent eased 2 cents to $47.52 a barrel.
with Reuters inputs