Benchmark Indian equity indices BSE Sensex and Nifty 50 opened lower on Monday, amid mixed global cues.
Benchmark Indian equity indices BSE Sensex and Nifty 50 opened lower on Monday, amid mixed global cues.
At opening bell, the BSE Sensex was down 418.99 points, or 0.53 per cent, at 79,067; while the Nifty 50 was at 24,036, down 112.10 points, or 0.46 per cent.
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With Republican candidate Donald Trump emerging as the President-elect of the US, and the party expected to secure a majority in both the houses of the government there, coupled with the Chinese government refraining from announcing any direct measures to support its sagging economy, all eyes in the domestic markets would be trained on the actions of foreign institutional investors, who have continued to make a tactical play for the Chinese markets in relation to India.
Global Cues
Markets in the Asia-Pacific region fell on Monday after China’s October inflation numbers came in lower than expected.
The country’s inflation rate declined to 0.3 per cent, missing expectations of 0.4 per cent and also lower than the 0.4 per cent seen in September.
Hong Kong’s Hang Seng index declined 2.23 per cent, while mainland China’s CSI 300 was ahead by 0.32 per cent. However, the Shanghai Composite was down 0.21 per cent.
Japan’s benchmark Nikkei 225 was down 0.33 per cent, while the broad-based Topix slipped 0.26 per cent.
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South Korea’s Kospi was down 0.83 per cent, and the small-cap Kosdaq was 1.74 per cent lower.
Australia’s S&P/ASX 200 started was down 0.39 per cent.
That apart, the US S&P 500 zoomed past 6,000 points on Friday to a new record while Treasury yields retreated, as investors again cheered Donald Trump’s decisive victory, although disappointment about China’s latest fiscal support dampened the mood elsewhere.
