Flat Nifty futures point to a subdued start for Indian shares on Tuesday. Soaring Treasury yields are likely to be a dampener.
Long term 10-year U.S. bond yields have soared to their highest level in sixteen years, rising to around 4.367%.
With no prominent triggers to set the trend, the mood is likely to remain cautious and activity will largely be stock specific for much of the day’s session with some corporate updates providing direction.
Tata Power has announced that Tata Power Renewable Energy Limited has signed a PPA for 9 MWp on campus solar plant with Tata Motors Limited for Pantnagar plant in Uttarakhand.
BHEL has announced that it has received an order worth Rs 4,000 crore from Mahan Energen, a unit of Adani Power.
After early weakness, the Indian market recovered well Monday morning, and despite a mild setback, firmed again and stayed firm right through the day’s session to finish modestly higher.
The BSE benchmark Sensex ended with a gain of 267.43 points or 0.41% at 65,216.09, while the National Stock Exchange’s Nifty50 settled at 19,393.60, gaining 83.45 points or 0.43%.
On Wall Street, stocks moved mostly higher overnight, regaining ground following recent weakness. The Nasdaq surged 1.6% and the S&P 500 climbed 0.7%, while the Dow edged down 0.1%.
Asian stocks are broadly higher today, but gains are just marginal in most of the markets in the region.
Market Analysis
Indian Shares Likely To Open On Subdued Note
2023-08-22 02:55:13
