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SGX Nifty indicates a negative opening for Indian markets

SGX Nifty is at 10,942.00, marginally up by 0.5 points.
Nifty saw a superb Friday as markets saw a fresh wave of buying from foreign investors as the new series for September started. However, over the long weekend, the GDP data disappointed majorly with growth coming at 6 year low of 5%. Auto sales for August continue to show dismal slow down which should see Nifty react negatively in opening trade today.

US Market: Dow Jones ends Friday with marginal gains as the long weekend sees quiet trade. Oil prices fall as US/China tariffs kick in from September 01, 2019, as markets look forward to the resumption of talks in September. Bond yields fall as money hides in US treasury, gold and Japanese yen against volatility in stocks.

Asian Market: Asian stocks saw mixed trade as new tariffs kicked in from September 1st, which was already discounted by markets. However, for China, the Hong Kong crisis seems more hurting as globally the wave of expatriates experience more pain as protest get louder. Asian markets saw a day of quiet trade on Monday and will see some more consolidation today as markets await more color from macro data and talks between US/China to avoid more confrontation on trade.

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