Domestic equity markets see volatile trading in morning session

The local stock markets witnessed volatile trading in the morning session of Tuesday, with Sensex and Nifty trading stable as investors await the results of the companies to assess the demand scenario in the economy.

One day after regaining the 60,000 level, the 30-share Sensex index opened in negative territory and was trading slightly lower at 60,045.23 points.

As many as 14 Sensex components rose, while 16 fell in early trade.

The broader Nifty 50-share stock traded flat at 17,740.60 points after opening slightly lower. As many as 25 major index stocks were in positive territory, while an equal number were in negative territory.

Asian markets saw mixed trends with Japan’s Nikkei 225 trading higher, while Hong Kong’s Hang Seng and China’s SSE Composite Index were trading lower.

European markets closed in the red on Monday, while US stocks closed mixed as investors await financial results of major technology companies and new economic data amid concerns in some quarters about a potential recession.

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in Pre-market opening noteDeepak Jasani, head of retail research at HDFC Securities, said the Indian market could open flat to moderately higher, despite largely lower Asian markets today and mixed US markets on Monday.

He added that Asia-Pacific markets were largely lower on Tuesday, after a similar session on Wall Street as investors looked forward to big tech earnings later this week.

Supported by strong buying in financial stocks, Sensex and Nifty settled with gains on MondayWhere the index of 30 shares regained the level of 60,000.

The markets are going through a fishy earnings season both in India and globally, said Mitul Shah, Head of Research – Institutional Desk at Reliance Securities, in an open note before the market launch.

Investors will closely analyze the quarterly numbers and management’s comments on the demand scenario in the economy. He said commodity prices, including Brent crude prices, would depend on the extent of recessionary conditions in the United States and recovery in China.

Foreign Institutional Investors (FIIs) were net sellers on Monday as they offloaded local shares worth Rs 412.27 crore, according to data available with BSE.