Pre-markets: Sensex, Nifty may open in red on weak global cues; Sun Pharma, Siemens in focus today
The BSE Sensex and NSE Nifty are likely to open lower on Tuesday tracking Nifty futures on the Singapore Stock Exchange and subdued global cues.
At 7.46 am (IST), SGX Nifty was down 19.50 points, or 0.24 per cent, at 8,060.50.
Global equities took another step down in Asia on Tuesday, with regional markets sliding and sterling wallowing near three-decade lows as Britain’s shock vote to exit the European Union continued to roil financial markets.
Wall Street tumbled again on Monday after Britain’s shock vote to leave the European Union, sending major US stock indices to their worst two-day swoon in about 10 months. All three main indices xes fell at least 1.5 per cent in the wake of Thursday’s referendum that has roiled global markets and led investors to seek safe-haven assets.
Back home, equity markets on Monday traded in a tight band by ending with marginal gains amid mixed global cues. There was an element of choppiness too ahead of the June derivative contract expiry coming up on Thursday. The 30-share Sensex closed at 26,402.96, a marginal rise of 5.25 points, or 0.02 per cent. The NSE Nifty ended higher 6.10 points, or 0.08 per cent, at 8,094.70 after shuttling between 8,039.35 and 8,120.65.
Stocks in focus:
Sun Pharmaceuticals: The company on Monday approved buyback of 75 lakh shares at Rs 900 per share.
Siemens Ltd: The company announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator (STATCOM) solutions to Power Grid Corporation of India Ltd.