Currency and equity markets on Tuesday might open in red over the mounting global trade worries.
Currency and equity markets on Tuesday might open in red over the mounting global trade worries. However, commencing the new fiscal on a buoyant note, the benchmark Sensex soared around 287 points to close at 33,255 following a strong rally in auto, pharma and banking counters on Monday.
The robust auto sales data triggered a rally in automobile stocks, led by Tata Motors, Hero MotoCorp, Bajaj Auto, Maruti Suzuki and Mahindra and Mahindra -- rising up to 3.5 per cent.
Shares of banks too witnessed a keen interest from participants, with Kotak Bank, HDFC Bank and Indusind Bank and Yes bank leading the charge.
However, traders are worried that global cues may overshadow the good start. Let's take a look at the factors that could act as deciding ones in today's trade.
1.Stocks slide, yen rise in flight to safety on trade war anxiety
Asian stocks extended a global selloff and the yen rose on Tuesday as investors fled for safety as an escalating trade spat between the United States and China and a renewed slump in tech shares such as Amazon.com sapped investor confidence.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.28 per cent pressured by the tech sector.
Japan's Nikkei slipped 1.1 per cent while South Korea's KOSPI index skidded about 1 per cent with Samsung Electronics down more than 1 per cent. Australian shares were off 0.3 per cent.
The losses in tech shares came after U.S. President Donald Trump attacked Amazon.com over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.
2. US blasts 'unfair' Chinese tariffs on 128 products
The United States has blasted as "unfair" Chinese tariffs imposed on 128 US imports worth USD 3 billion, including fruit and pork, in the latest tit-for-tat over US duties on steel and aluminium.
China's action, which was decided by the customs tariff commission of the State Council, followed weeks of rhetoric that has raised fears of a trade war between the world's two biggest economies.
President Donald Trump's administration had said its duties were aimed at steel and aluminium imports that it deemed a threat to US national security, but China's Commerce Ministry called that reasoning an "abuse" of World Trade Organization (WTO) guidelines.
3. 4 PSUs file IPO papers with Sebi
Four state-owned firms, including Mazagon Dock Shipbuilders and Rail Vikas Nigam, have filed draft papers with markets regulator Sebi to float initial public
Railway infrastructure firm Ircon International and warship maker Garden Reach Shipbuilders and Engineers are the other two firms which have filed IPO papers.
The IPOs will be part of the government's target to garner Rs 80,000 crore through stake sales in state-owned companies in 2018-19.
4. Sebi bans First Financial Services, 28 others from markets for 3 years
Sebi on Monday barred First Financial Services and 28 others from the markets for three years for orchestrating a fraudulent scheme involving preferential allotment route, which ultimately benefited a few allottees.
The move follows Securities Appellate Tribunal's (SAT) directive to Sebi for passing the final orders in the matter by March this year.
The markets regulator had conducted an investigation into the dealings of the First Financial Services Ltd (FFSL) stock as it observed abnormal movement in the price and trading volume of the scrip on BSE from May 15, 2012 to March 31, 2014.
5. India-Japan-US trilateral in New Delhi ahead of Trump-Abe summit
New Delhi will host the strategically important trilateral dialogue between India, Japan and the US this week ahead of the summit between US President Donald Trump and Japanese Prime Minister Shinzo Abe at Mar-a-Lago later this month, the State Department has said.
The Trump administration has sent two of its senior diplomats from the State Department -- Principal Deputy Assistant Secretary of State for South and Central Asian Affairs Alice Wells and Acting Assistant Secretary of State for East Asian and Pacific Affairs Susan Thornton - to co-lead the American delegation for the trilateral dialogue.
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 "Donald Trump, Global Trade war, US President, China, Tech shares, global markets, Asian shares, Sensex, Nifty, RBI, Sebi, PSUs,")
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