MARKET LIVE: Weak open likely for Sensex, Nifty as global stocks decline


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Stock updates: The Sensex and Nifty benchmark indices may open lower on Tuesday as global stocks decline on fears of continued rate hikes by the .


At 7:30 am, the SGX Nifty futures were 70-odd points lower at 18,750 levels.

US stocks slumped overnight as a strong ISM services activity reading for November, at 56.5 per cent vs an estimate of 53.7 per cent, fueled fears that the may continue monetary tightening even amid risks of a large economic cost.


The Dow slipped 1.4 per cent, the S&P 500 1.79 per cent and the Nasdaq 1.93 per cent.


In Asia too, the Hang Seng index fell 0.48 per cent in early trade this morning. The Shanghai Composite in mainland China, and Strait times slipped up to 0.4 per cent. Nikkei held marginal gains.  


Besides, investors will track the Reserve Bank of Australia’s policy decision today. It is expected to deliver a 25 bps rate hike.  

Back home, market action will also be guided by election exit poll results across Gujarat and Himachal Pradesh. Check here
 


Among stocks, Bajaj Consumer will be in focus as its board will consider a share buyback proposal on December 9.

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