Indian equity markets trading flat as investors stayed on the sidelines in a holiday-truncated week. They also looked forward to U.S. Federal Reserve”s 2-day policy meeting, ending May 1, 2019, and U.S. payroll data, scheduled to be released on May 3, 2019.
Asian equity markets were mixed after China reported a slower pace of factory activity for Apr 2019. This made investors worry over slowing global growth. Investors also looked forward to a series of economic data from Europe, the U.S. Federal Reserve”s (Fed) monetary policy decision and the latest developments on U.S.-China trade front. Today (as of May 2), Asian markets opened on a mixed note after the U.S. Fed indicated that it is not currently considering a cut in interest rates.
As per the last close, U.S markets on a lower note after U.S. Fed’s Chairman dashed investors’ hopes of interest rate cut in the near-term. Weakness in energy, steel, software and gold stocks weighed on the indices.