Markets open flat amid simmering tensions in Korean peninsula

Benchmark indices opened flat on Wednesday in absence of major cues as Wall Street remained shut on account of public holiday.  Street was on edge as tensions after North Korea fired a missile into Japanese waters kept the global markets subdued. Investors also awaited minutes of the Fed's June meeting to gauge how committed it was to hiking rates this year. North Korea said it had conducted a test of a newly developed intercontinental ballistic missile that can carry a large and heavy nuclear warhead. South Korean and US troops fired missiles into the waters off South Korea to show their deep strike precision capability. Commodity Trading Tips

 
At 9:17 am, the S&P BSE Sensex was trading at 31,200, down 9 points, while the broader Nifty50 was ruling at 9,612, down 1 point. In the broader market, the S&P BSE Midcap and S&P BSE Smallcap index gained 0.2% each. "The internal trendline that pierces through 9,640, also discussed yesterday, shall continue to be a challenge, and to this end, dips to 9,580 should be a convenient entry. And until then, volatility should be the order of the day. Alternatively, direct rise above 9,650 could see some short covering, but a directional upside is less favoured," said Geojit Financial Services in a note. Nifty Trading Tips