1. Market outlook: After Monday’s mayhem, Sensex, Nifty likely to recover

Market outlook: After Monday’s mayhem, Sensex, Nifty likely to recover

The BSE Sensex and NSE Nifty are likely to open in positive tracking SGX Nifty and Asian peers.

By: | Updated: August 25, 2015 8:45 AM
sensex-l-pti

Sensex and Nifty dipped around 6 per cent in Monday’s trading session. (Photo: PTI)

The BSE Sensex and NSE Nifty are likely to open in positive tracking SGX Nifty and Asian peers.

At 8.25 am (IST), SGX Nifty was up 1.85 per cent at 7,943.

Asian peers, Nikkei and Hang Seng were up 1.10 per cent and 1.99 per cent at 18,744.90 and 21,647.78 respectively. However, Shanghai Compositive index was down 3.21 per cent at 3,106.85.

US stock indices plunged almost 4 per cent on Monday as investors, rattled about China’s economy, sold heavily in an unusually volatile session that confirmed the benchmark S&P 500 was formally in a correction.

The Dow Jones industrial average briefly slumped more than 1,000 points – its most dramatic intraday trading range ever – with key component Apple falling heavily only to claw back but end down 2.5 per cent.

Back home, the key benchmark indices dipped around 6 per cent in Monday’s trading session. Sudip Bandyopadhyay, president, Destimoney Securities, said, “We can see some recovery in Tuesday’s trading session. However, investors should avoid banking and real estate stocks.”

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