INDIAN EQUITY MARKET OUTLOOK - 3 Apr 2018
Sensex, Nifty continue to trade flat; SBI up 2%
The Indian market are likely to open on negative note on Tuesday on the back of negative global cues.
Asian indices are trading in red on the back of escalating trade spat between the United States and China and a renewed slump in tech shares such as Amazon.com sapped investor confidence.
The Japan's Nikkei and Shanghai Composite, Taiwan Weighted slipped 1 percent in today's trade.
The US markets slipped in Monday's trading on the back of drop in technology stocks on trade war worries.
The Indian rupee gained in the early trade on Tuesday. It has opened higher by 9 paise at 65.08 per dollar versus 65.17 Wednesday.
Banking stocks witnessed a rally on the back of the central bank’s announcement on bond losses.
The Nifty Bank index was up almost half a percent, led by gains in Bank of Baroda, PNB, SBI, Yes Bank and ICICI Bank, among others. They gained 1-4 percent in the morning trade.
The US dollar steadied against the safe haven yen after declining for three straight days and gold, which is often seen as a store of value during times of financial or political uncertainty, inched lower.
Asian shares slipped on Tuesday amid escalating trade tensions and worries over the fading outlook for global tech giants, but investors held their nerves to focus instead on prospects for stronger world growth.
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