Domestic markets concluded on a flat note on Tuesday and analysts say a rebound from the lows suggests buy on dip strategy.

Gift Nifty (Earlier SGX Nifty) signals a muted start

GIFT Nifty on the NSE IX traded lower by -8.00 points, or 0.03 per cent, at 24,677.50 signaling that Dalal Street was headed for muted start.

US stocks fall

Wall Street's main indexes closed lower on Tuesday as technology sector losses offset gains in communications services while investors waited for key inflation reports that may influence the Federal Reserve's next interest rate decisions

◦ Dow down 0.35%,

 S&P 500 dips 0.30%,

◦ Nasdaq fall 0.25%

Asian stocks mixed

Asian shares fluctuated as traders await key US inflation data for clues on whether

the Federal Reserve will cut or hold interest rates next week. Japanese and Australian equities slipped, while Korean shares rose, S&P 500 contracts were little changed on Wednesday following a 0.3% drop for the index in the US. Bond yields rose in the runup to the consumer price index data.

◦ S&P 500 futures were little changed as of 9:12 a.m. Tokyo time

◦ Japan's Topix was little changed

◦ Australia's S&P/ASX 200 fell 0.3%

◦ Euro Stoxx 50 futures fell 0.7%

Rupee

The rupee settled for the day on a flat note higher by just 1 paisa at 84.85 against the US dollar on Tuesday, a tad above its all-time low level, as change of guard at the Reserve Bank of India raised expectations.

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