Indian stock indices traded largely steady Tuesday morning after closing high in the previous session.
On Monday, the indices traded on a firm note and Sensex rose about 400 points. “Markets started the week positively and gained over half a per cent. After the initial uptick, Nifty traded dull in the initial hours however noticeable buying in banking and financials majors changed the tone as the day progressed (on Monday),” said Ajit Mishra, VP – of Technical Research, Religare Broking.
For fresh cues, investors will continue to monitor the earnings of listed companies along with the latest pattern of foreign investments in Indian stocks.
“The important question in the near term is whether the current rally can sustain. The answer will depend largely on global cues since the market needs support from global markets, particularly from the mother market US,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“This week is hugely important for the US since many big tech US companies will be reporting results this week. More important, US inflation and GDP data are expected this week and will indicate the Fed decision on interest rates next week,” Vijayakumar said.
In the Asia Pacific region, financial markets were largely lower on Tuesday, following a similar session on Wall Street as investors look ahead to earnings in the US to be released later this week, said Deepak Jasani, Head of Retail Research, HDFC securities. (ANI)
