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Nifty Trade Higher; Asian Markets Tank

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Benchmark indices opened the day lower on Tuesday, as the Dow Jones fell 3 per cent in trade on Monday, its biggest fall in 2019. However, buying at lower levels ensured that the markets were trading with gains. The Sensex was up 208 points and the Nifty higher by 66 points.

It was carnage across Asia, as most of the markets slumped with the Japanese Nikkei losing as much as 1.5 per cent and the Hong Kong's Hang Sang down 2.3 per cent. In Australia too the benchmark S&P ASX 200 lost slightly more than 2 per cent.

 

Intense selling pressure by Foreign Portfolio Investors has pushed the benchmark indices 10 per cent lower from record highs.

Nifty Trade Higher; Asian Markets Tank

Shares in IndiaBulls Housing was the top gainer from the Nifty ahead of results to be announced by the company later today. State Bank of India, which had seen a huge fall ever since its results were declared last week, was among the gainers in early trade. Most financial stocks, including select NBFCs like L&T Finance Holdings were looking to make a recovery in trade today.

Zee Entertainment was the top loser from the Nifty followed by TCS and Titan.

The S&P Futures pointed to some recovery, which led to some recovery in stocks in across Asia, though most of them were still down.

Markets are expected to remain increasingly volatile go ahead and investors should avoid too much risk.

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