Stock markets likely to open flat; rate sensitive sectors will be in focus

By: | Published: August 4, 2015 8:50 AM

Indian stock markets are likely to open flat with negative bias tracking SGX Nifty on the Singapore Stock Exchange and other Asian markets.

sensex and niftyRate sensitives stocks will remain in focus ahead of RBI third bi-monthly monetary policy review for the financial year 2015-16. (Express Photo)

Domestic equity markets are likely to open flat on Tuesday with negative bias tracking SGX Nifty on the Singapore Stock Exchange and other Asian markets.

At 8.21 am (IST), SGX Nifty was trading 0.03 per cent lower than its previous close.

Asian markets were trading lower with Nikkei 225 index and Hang Seng index down 0.10 per cent and 0.18 per cent at 20,526 and 24,366, respectively.

Rate sensitives stocks will remain in focus ahead of RBI third bi-monthly monetary policy review for the financial year 2015-16.

Chandan Taparia,derivative and technical analyst, Anand Rathi Securities said, “RBI monetary policy will give direction to the market. If NSE Nifty holds above 8,508 levels then we may see the benchmark index moving towards 8,635-8,650. However, if it falls below 8,508 levels, then we may see some profit booking today.”

On Monday, the BSE Sensex and the NSE Nifty gained 0.26 per cent and 0.12 per cent to 28,187.06 and 8,543.05, respectively.

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