Indian markets could open lower, in line with mostly lower Asian markets today and despite higher US markets on Mar 18
U.S. stocks finished higher Monday — breaking a three-day losing streak for the S&P 500 and Nasdaq Composite — as investors awaited a Federal Reserve meeting this week that’s expected to throw light on the prospect of rate cuts later this year. Megacap growth stocks such as Alphabet and Tesla supported a rebound in technology-heavy Nasdaq.
Investors in Asia will be closely monitoring China, where the top securities regulator said the defaulted developer at the heart of the nation’s real estate crisis falsely inflated revenue by more than $78 billion in the two years leading up to its failure.
Shares in the Asian-Pacific region were trading under slight pressure as investors await cues from various central bank decisions over the week, starting with the Bank of Japan.
Nifty rebounded from one-day fall to end a volatile first session of the week higher. At close, Nifty was 0.15% or 32.4 points higher at 22055.7. Cash market volumes on the NSE fell sharply to Rs.0.79 lakh cr – the lowest since Jan 01, 2024 – ahead of the looming financial year end. Nifty formed a high low range on Mar 18 that was similar to the previous session. Lately it has not been able to hold on to the entire intra day gains but at the same time witnessing support from lower levels. Nifty could stay in the 21905-22204 band for the near term.