Higher SGX Nifty futures point to a slightly positive start for Indian shares Tuesday morning. However, the overnight sell-off on Wall Street that pushed the major averages to multi-month lows may weigh on sentiment and limit market’s upside.
Worries about the Chinese realty major Evergrande’s debt woes, and caution ahead of the Federal Reserve’s monetary policy announcement are likely to render the mood cautious.
The Fed, which is scheduled to announce its policy on Wednesday, is widely expected to leave monetary policy unchanged but could address the outlook for its asset purchase program.
HCL Technologies Limited announced a five-year, digital transformation deal with MKS Instruments Inc. to enhance MKS’ end-user experience by automating operations and migrating it toward a hybrid cloud journey.
Indian shares fell sharply on Monday as markets in Asia and Europe tumbled amid concerns around debt-laden Chinese developer Evergrande’s inability to pay part of its huge debt due on Thursday.
The benchmark 30-share BSE Sensex fell 524.96 points, or 0.89 percent, to 58,490.93, while the broader NSE Nifty index ended down 188.25 points, or 1.07 percent, at 17,396.90.
U.S. stocks plunged sharply on Monday, and the major averages all suffered their worst setbacks in several weeks, as worries about potential collapse of China’s real estate firm Evergrande dented sentiment.
The Dow, which plunged to 33,613.03, ended the session with a loss of 614.41 points or 1.78 percent at 33,970.47. The S&P 500 closed lower by 75.26 points or 1.7 percent at 4,357.73, off the day’s low of 4,305.91, while the Nasdaq settled at 14,713.80, recording a loss of 330.06 points or 2.19 percent.
Indian Shares May Open Higher
2021-09-21 03:09:56
