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Stock markets likely to open negative, says SMC

Asian equities started on Wednesday on the back foot, as stocks on Wall Street dropped amid renewed concerns over the state of the US economy.

BT Online Bureau | May 6, 2015 | Updated 09:42 IST
Stock markets likely to open negative, says SMC
Photo: Reuters

Domestic equity market is likely to open on negative note tracking CNX Nifty futures on the Singapore Stock Exchange.

CNX Nifty futures on the Singapore Stock Exchange were trading 42 points down at 8,320.5, indicating a negative opening on the domestic market.

The key benchmark index S&P BSE Sensex declined marginally 0.18 per cent, or 50.45 points, and closed at 27,440.14 on Tuesday. During the day, the index touched a high of 27,603.71 and low of 27,338.23.

The CNX Nifty index on the National Stock Exchange also declined 0.09 per cent, or 7.15 points, and ended the day at 8,324.80.

Asian equities started today on the back foot, as stocks on Wall Street dropped amid renewed concerns over the state of the US economy.

Overnight, US shares shaved off about 1 per cent as investors eyed higher bond yields and an unexpectedly wide March US trade deficit, which sparked concerns about economic growth for the first quarter.

Greaves Cotton, GIC Housing Finance, GTL Infra., KEC International, Triveni Turbine, TVS Electronics and State Bank of Bikaner and Jaipur will announce their results on Wednesday.

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