Sensex likely to recover amid China Markets

Rupee opens higher at 66.51 per dollar against Monday’s close of 66.61.

The Sensex and Nifty are set to open with marginal gains on Tuesday as indicated by Nifty futures trading on Singapore Stock Exchange (SGX Nifty), which was up 20 points at 7,822.

Meanwhile, Asian markets were trading lackluster. The Shanghai Composite, which plunged 7 per cent leading to a trading halt on Monday, opened with 3 per cent cuts on Tuesday. However, it recovered later on and was down only 0.1 per cent. Japan’s Nikkei, Hong Kong’s Hang Seng and Korea’s Kospi index traded with 0.1-0.8 per cent gains.

Overnight, the S&P 500 and Nasdaq posted their worst start to a year since 2001, while it was the worst for the Dow since 2008.The Dow Jones industrial average closed down 276.09 points, or 1.58 per cent. The S&P 500 fell 31.28 points, or 1.53 per cent, and the Nasdaq Composite lost 104.32 points, or 2.08 percent.

Foreign investors sold cash shares worth Rs 667 crore on Monday, domestic investors were net sellers to the tune of Rs 223 crore.

Indian market ended lower on Monday spooked by massive selloff in China shares, which resulted in a trading halt for the rest of the day. The Sensex closed 537 points lower while the 50-share Nifty ended 2.16 per cent lower, below the 7,800 mark.

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Source:Ndtv

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