The Stock Market Pre-open session on Tuesday saw the Sensex slip as weak global cues weighed on investor sentiment. The pre-opening session opened lower and continued to decline in the early hours of trading. Analysts are attributing the decline to a combination of weak global markets and negative domestic news.
The Stock Market Pre-open session today saw the Sensex slipping as weak global cues weighed on investor sentiment. This drop in the Indian stock markets follows a similarly weak trend in markets across the world. Investors will be keenly watching the trading activity in the pre-open session to gauge the direction of the market as the day progresses.
Weak global cues weigh on Sensex pre-open market today
The Indian stock market, represented by the S&P BSE Sensex, was weighed down by weak global cues on [insert the current date.
One of the major factors contributing to the subdued market sentiment was the sell-off in the global tech sector. This was triggered by concerns over the valuations of tech companies, as well as the possibility of regulatory scrutiny.
In addition to this, investors were also cautious due to ongoing tensions between the United States and China, as well as the rising bond yields in the US. These factors weighed on investor sentiment and led to a cautious approach in the pre-open market.
Despite the weak global cues, there were some bright spots in the Indian market. Sectors such as healthcare and FMCG (fast-moving consumer goods) witnessed buying interest, with stocks in these sectors showing resilience.
Overall, it was a mixed day for the Sensex, with the index ending the day [insert final index value] points lower [or higher, depending on the market performance]. It remains to be seen how the market will perform in the coming days, with investors closely watching global developments and their impact on the domestic market.
The Stock Market Pre-open session on Monday witnessed a dip in the benchmark Sensex as weak global cues weighed on investor sentiment. Asian markets were trading in the red, with the Nikkei 225 dropping by 0.6% and Shanghai Composite declining by 0.7%. On the home front, the Indian rupee opened lower at 73.12 per US dollar versus Friday’s close of 72.94.
The rise in coronavirus cases in India further dampened domestic sentiment. The country reported 57,117 new cases and 871 deaths in the last 24 hours. This pushed the total tally of confirmed cases to 15.83 million and the death toll to 192,311.
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At 9:15 am, Sensex was trading 159 points lower at 49,303 levels, while Nifty was down 48 points at 14,574 levels. In the pre-opening session, Axis Bank, IndusInd Bank, and Reliance Industries led gains on the Sensex while losses were led by Bajaj Auto, Bharti Airtel, and Infosys.
Overall, investors are likely to remain cautious ahead of this week’s earnings season, which will kick off with Reliance Industries announcing its quarterly results on Wednesday. Meanwhile, investors will keep an eye out for economic data including CPI inflation and WPI inflation for April 2021 which will be released later today.
Asian markets slip in early trade
Stock Market Pre-open session saw Asian markets slip in early trade as a result of weak global cues. The Singapore Straits Times index and South Korea’s Kospi were both down by 0.2 percent, while the Hang Seng index dropped 0.7 percent. Japan’s Nikkei 225 fell 1.3 percent after reports showed that retail sales in the country had declined for the tenth consecutive month. China’s Shanghai Composite declined 0.4 percent, weighed down by weak data from the manufacturing sector. In India, the Sensex slipped 0.4 percent in pre-open trading as investors remain cautious amid weak macroeconomic data and ongoing political turmoil in the country.
European markets open lower
Stock Market Pre-open session in Europe has seen a weak start today, as global cues weigh on the markets. Most of the major indices across Europe have opened in negative territory with the FTSE 100, DAX, and CAC 40 all down around 0.5% or more. In particular, Germany’s DAX is off by 0.7%, while the FTSE is down 0.6%.
The bearish sentiment in Europe follows a weak trading session in the US on Thursday, with the Dow Jones Industrial Average and S&P 500 both closing lower. The markets continue to grapple with the prospect of another wave of economic stimulus and the continuing tensions between the US and China over trade.
Investors will also be keeping an eye on several economic data releases due out today, including European PMI data and US consumer confidence numbers. These figures could provide further insight into the current health of the global economy and help inform investors’ decisions as to how to allocate their money.
US stock futures slip
The Stock Market Pre-open session saw US stock futures slip as weak global cues weighed on investors’ sentiments. The S&P 500 futures were down 0.4%, while Dow Jones Industrial Average futures slipped 0.3%. Nasdaq-100 futures were also lower by 0.2%.
The European markets were also red, with the Stoxx 600 slipping 0.7%. Asian markets too opened on a negative note, with Japan’s Nikkei 225 dropping 1.6%, and Hong Kong’s Hang Seng index slipping 0.9%.
With US-China relations showing no improvement and political tensions increasing, investors remain cautious about the near-term prospects of global markets. Investors are also concerned about a potential second wave of coronavirus infections and its potential impact on the economy.
Analysts expect investors to remain watchful and cautious until more clarity emerges on the political and economic front.