Sensex, Nifty Likely To Have A Weak Opening
The domestic stock markets are likely to open lower due to weak cues from the global front. The markets will react to the results of assembly elections in Assam, West Bengal, Kerala, Tamil Nadu and Puducherry, as also the earnings announcement by Reliance Industries post market hours on Friday. The record high GST collection of Rs 1.41 lakh crore for April and auto companies' April sales figures are also likely to influence the sentiment on Dalal Street on Monday.
Asian markets are trading lower, Wall Street ended lower over the weekend and trends on SGX Nifty indicate a negative start for the broader index in India. At 7:30 am, the Nifty futures were trading at 14,553, lower by 88.50 points or 0.60 per cent, on the Singapore Stock Exchange.
Asian markets got off to a slow start on Monday as holidays in China and Japan crimped volumes and investors awaited a raft of data this week which should show the U.S. leading a global economic recovery.
Wall Street ended lower on Friday, with Amazon, Apple, Alphabet and other tech-related companies weighing on the S&P 500 and Nasdaq despite recent strong quarterly earnings reports, said a Reuters report. The Dow Jones fell 0.54 per cent, while the S&P 500 lost 0.72 per cent and Nasdaq Composite dropped 0.85 per cent.
On the earnings front, Godrej Properties, IDBI Bank, Kotak Mahindra Bank, SBI Life Insurance and Tata Chemicals will declare their Q4 numbers during the day.
