Indian markets are likely to open on positive note tracking SGX Nifty & Asian
Following the long holiday weekend, US market moved mostly lower over the course
of the trading session on Tuesday. With the drop on the day, the tech-heavy Nasdaq
pulled back off the record closing high set last Friday. Financial stocks turned in
some of the market’s worst performances on the day, contributing to the overall
weakness on Wall Street.
The European markets got off to a weak start Tuesday, but trimmed their early losses
following today’s highly anticipated speech by U.K. Prime Minister Theresa May. May
stated that the U.K. is set for a ‘hard Brexit’, which implies a complete separation
from the European Union. She went on to say that her country will not remain a
member of the single market.
Indian markets closed with modest losses on Tuesday, erasing early gains, as
investors booked profits after last week’s strong surge. Investors also turned cautious
ahead of U.K. Prime Minister Theresa May’s speech on Brexit later.