Indian stock markets are likely to open flat on Tuesday as most of the Asian markets excluding Japan traded dull in the early session today. The early indicator of NSE Nifty — SGX Nifty Futures — was trading little changed, down 0.05% at 10,125 points on the Singapore Stock Exchange. Asian shares were subdued on Tuesday as investors’ rotation out of technology shares took the toll on some of the region’s tech heavyweights although hopes of a major tax cut in the United States underpinned risk sentiment, Reuters said in a report. Shares of Dish TV, Rane Holdings, Lux Industries, Manali Petro, Orient Bell, Plastiblends, and Byke Hospitality will be in watch ahead of their Q2 earnings.
Nestle India: Maggi maker Nestle India declared an interim dividend of Rs 33 per share for 2017. “The Board of Directors at their meeting held today declared a third interim dividend of Rs 33 per equity share for the year 2017 on the entire issued, subscribed and paid up share capital of the company,” Nestle said in an exchange filing.
Following a drop in the technology shares worldwide, stocks of Infosys, TCS, Wipro, HCL Technologies will also be in focus today.
Indian Rupee on Monday
The rupee today rebounded by 9 paise to end at 64.37 against the US dollar in a highly volatile trade. Overall sentiment got a boost after the government’s official data showed that the country’s economy expanded by 6.3% in the July-September quarter, reversing the five-quarter downtrend.
Indian markets on Monday
Reversing a four-session slide, the benchmark Sensex closed positive at 32,870 today as investors cherry-picked recently beaten-down stocks in IT, metal and healthcare space, PTI said in a report. Infosys was the top performer in the Sensex pack, rising 2.80 per cent, after the IT major announced the appointment of Salil Parekh as MD and CEO. Trading was volatile throughout the session ahead of RBI’s monetary policy review and Gujarat elections later this week. The central bank is scheduled to announce the fifth bi-monthly policy of the current fiscal on December 6.
US markets on Monday
The Dow Jones Industrial Average reached a record high on Monday, with banks and retailers surging and technology companies falling as investors realigned their portfolios in hopes of benefiting from expected corporate tax cuts, Reuters reported. The S&P 500 ended with a loss after hitting an intra-day all-time high earlier in the day, while the technology-heavy Nasdaq dropped 1.05 percent. The Dow Jones Industrial Average rose 0.24 percent to end at 24,290.05 points, while the S&P 500 lost 0.11 percent to 2,639.44. Earlier in the session, the S&P 500 had touched a record high. The Nasdaq Composite dropped 72.22 points to end at 6,775.37.