Volumes are falling at a time when the equity indices are hitting fresh highs each day, suggesting that traders, and not long-term investors, are anchoring the ongoing rally. Will the indices go far?
Let's check out what all might matter to Dalal Street during the day:
Singapore trading sets stage for flat start
Nifty futures on the Singapore Stock Exchange were trading 4 points higher at 11,348, indicating a flat start for the Nifty50.
Tech view: Nifty forms small bullish candle
While the index formed higher highs and higher lows for the seventh consecutive session, in the process, it entered the overbought zone as suggested by the 14-day relative strength index. Analysts had mixed views by the end of the day; some said Nifty is heading towards the 11,500 in a weeks time, whole others said the time is ripe to take some profit off the table.
Volume drop hints at lack of interest
Bull markets typically top out when both commitment and valuations turn decisively frothy. Experts are yet to ascertain whether stock valuations have peaked, but there are indications that long-term investment commitments are thinning. Combined delivery volumes on the BSE and NSE in July dropped to 32.96 per cent, the lowest in the past five years, according to ETIG database.
Asian shares decline on tech rout
Asian share markets weakened on Tuesday, taking cues from the rout in global technology shares while the yen edged higher ahead of the Bank of Japans rate review, at which it could flag a shift away from its massive monetary stimulus, Reuters reported. Japans Nikkei fell 0.5 per cent. South Koreas Kospi index dipped 0.1 per cent despite solid second-quarter results from Samsung Electronics, the report said.
Oil prices drop on rise in OPEC output
Oil prices slipped on Tuesday after a report showed that OPEC production reached a 2018 high in the month of July, although the losses were limited as concerns about supply lingered, Reuters reported. September Brent crude futures fell 7 cents to $74.90 a barrel after rising 68 cents, or 0.9 percent, on Tuesday.
US stocks settled lower overnight
In overnight trade the Dow Jones Industrial Average index declined 144.23 points, or 0.57 per cent, to settle at 25,306.83. The broader S&P500 index shed 16.21 points, or 0.58 per cent, to close at 2,802.61. The Nasdaq Composite index tanked 107.42 points, or 1.39 per cent, to 7,630.
HDFC shareholders vote against Parekh
Nearly a quarter of the shareholders of HDFC Ltd voted against the continuance of chairman Deepak Parekh as director in a dramatic shareholders meet in Mumbai on Monday. Parekh, a doyen of the financial services industry and one of the longest serving chairmen of HDFC, got 22.64 per cent negative votes and 77.36 per cent votes in his favour.
Tata Motors, Power Grid earnings today
Tata Motors, UPL, Power Grid, Ajanta Pharma and Bank of India will be some of the companies that will report their quarterly earnings later in the day. Blue Dart, Dabur India, GSFC, Raymond, will also report their quarterly results during the day.
GST cuts credit negative, will hit revenue: Moodys
International rating agency Moodys has said the latest goods and services tax (GST) rate cuts on 88 items will adversely impact the governments revenue collection and termed the move “credit negative” saying it will put pressure on efforts toward fiscal consolidation.
FPIs sell Rs 234 cr worth equities
Foreign portfolio investors (FPIs) sold Rs 234 crore worth of domestic stocks on Monday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 49 crore, data suggested.
[contf] [contfnew] 
ET Markets
[contfnewc] [contfnewc]
