Indian stocks are likely to gap down marginally on Tuesday morning when they open for trade on account of negative global cues.
WallStreet closed lower on Monday as traders' confidence remained shaky ahead of key employment data and corporate earnings later this week and as two key stocks took a hard beating.
Asia in red
Japanese markets are trading down nearly half percent due to uncertainty ahead of a Bank of Japan decision on interest rates. Australia too is trading down more than one percent. The Reserve Bank of Australia was slated to announce its policy decision later in the day, with economists split over whether it will hike its policy interest rate.
Dalal Street - Sluggish morning session
Sluggish trade with bearish bias is expected atleast in the first couple of hours of trade. Not a bad idea to pick up stocks for short term trading. As expected broking, Realty, Cap Goods and metal counters are driving while surprisingly few bank counters moved up. DCB witnessed fund buying from Blackstone Asia (picked 11 lakh shares at Rs 58.88)
Watch out for stocks like JMC Projects, Sadhbav Engineering today and tomorrow. While pullback is not ruled out from lower levels, midcap and smallcap stocks might shine today