6 things that changed for market overnight: Gift Nifty, FII selling to global market cues for Sensex today
Indian stock market is expected to open lower on Monday following weak global cues and is likely to consolidate further. Benign domestic macroeconomic data and outflow of foreign capital is likely to weigh on markets. Investors may react to June factory output growth slipping to a 3-month low, while trade cautiously ahead of other key economic data releases in this holiday-truncated week, including wholesale price index (WPI) and July retail inflation data, exports and imports numbers and forex reserves data.
On Friday, domestic equity benchmarks Sensex and Nifty ended lower for the second consecutive session dragged by negative global cues and the dollar's rise against its major global peers. “Domestic equities continued with its weakness on account of subdued global cues and hawkish commentary from RBI. In the absence of any major trigger and uncertain global cues, we expect the market to consolidate in the range," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
Also Read: Macro data, global cues, FII inflows & more: Key triggers for stock markets this week Here are key things to know before the opening of the Indian stock market today: Asian markets declined following weakness on Wall Street and concerns over China’s worsening property slump. MSCI's broadest index of Asia-Pacific shares outside Japan eased another 0.2%, after falling 2% last week. Japan’s Nikkei 225 eased 0.1%, while the Topix gained 0.12%.
South Korea’s Kospi fell 0.3% and the Kosdaq declined 0.85% Hong Kong’s Hang Seng index futures traded below the 19,000 mark for the first time in almost a month. The index was at 18,857 as compared to the previous close of 19.075.19. In Australia, S&P/ASX 200 lost 0.37%.
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