The domestic equity markets witnessed lacklustre trade on Tuesday with the 30-share Sensex ending the day with marginal losses at 14,994.18 points, down 16.30 points or 0.11%. The Nifty closed the day on a flat note at 4,370.20 points, down 0.08% or 3.45 points. Asian markets had a mixed session with Hang Seng, Nikkei 225 and Shanghai Composite gaining marginally whereas Taiwan Weighted, Seoul Composite and Jakarta Composite ending the day in the red.
Market experts attribute the low activity in the domestic equity bourses to the lack of clear-cut direction from global markets as the markets are waiting to take cues from hedge funds.
Funds across the globe are keenly waiting for the one-month notice, given by investors who wish to withdraw their money from hedge funds, to end on August 15.
Following expiry of the notice period, a clear picture will emerge as to how much losses these funds have suffered owing to withdrawal of funds. This comes in the backdrop of the worsening subprime mortgage markets in US.
On Tuesday, the market breadth was positive with 1,573 stocks advancing against 1,104 stocks ending the day in the red. Among the Sensex pack, 14 stocks advanced while 16 stocks lost ground.
