Indian markets are expected to open positive tracking the SGX Nifty.
The US and European markets were closed on Monday. NSE Nifty on Monday slumped to a 7 month low of 7908 and the Sensex below
26000 on the fears of excessive taxation by the government and the ongoing cash
crunch. On Saturday Prime Minister Narendra Modi had said that market
participants should contribute to nationbuilding in a fair efficient and transparent
way and promised more sound and prudent policies and reform measures which
was seen in some quarters as a prelude to higher taxation by way of longterm
capital gains tax on investment in shares.
Sensex opened at 25992 against previous close of 26041 hit an intraday high of
26009 and a low of 25754. On similar lines the broader Nifty50 of the National
Stock Exchange (NSE) closed at 7908 down 78 points – its lowest closing since May
25 2016.
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