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| Capitalstars Investment Advisor |
Domestic equity indices opened flat on Tuesday, in line with Asian peers, amid uncertainty over a trade deal between the US and China. Investors decided to wait rather than take bets as December 15 deadline for the next round of US tariffs on Chinese imports came close.
Adding to the market uncertainty were comments from US Agriculture Secretary Sonny Perdue on Monday that while President Donald Trump did not want to implement tariffs, he did want to see "movement" from China.
BSE barometer Sensex was down 4.82 points at 40,482.61 around 9.30 am while its NSE counterpart Nifty ebbed 4.25 points to 11,933. Broader markets were in line with their headline peers, as Nifty Midcap gained 0.07 percent to 16,738 and Nifty Smallcap shed 0.03 percent to 5,652. Nifty 500 was unchanged at 9,671.
Among the sectoral indices on NSE, Nifty IT was the biggest loser, down 0.87 percent to 15,025 while Nifty Realty shed 0.18 percent to 279.95 and Nifty Metal 0.13 percent to 2,548. Among gainers were -- Nifty Pharma, Nifty PSU Bank, and Nifty Auto, with each gaining 0.3 percent.
Sun Pharma was the biggest gainer in the 30-pack Sensex, up 1.76 percent at Rs 434.50, followed by Tata Motors that edged 0.72 percent higher in the opening trade to Rs 161.70. YES, BankNSE -1.51 % was the biggest loser in the 30-share pack, down 2.14 percent at Rs 55.
Globally, Asian equity markets ticked down tracking Wall Street losses as investors fretted over the deadline for the next round of US tariffs on Chinese imports. The deadline looms over a series of other significant events this week, with markets also awaiting the UK election on Thursday, and US and eurozone central bank meetings.
With investors reluctant to make big bets, MSCI's broadest index of Asia-Pacific shares outside Japan was just 0.05 percent lower, with China's benchmark Shanghai Composite index off 0.3 percent. Australian shares were off 0.19 percent, while Japan's Nikkei was flat.
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