Indian markets are closed today on account of Moharram (September 10). In broader news, markets have been volatile but ended strongly yesterday, driven by rise in FMCG stocks. The auto sector had more bad news, with August sales indicating a deepening slowdown and logging a tenth month of decline

FMCG sectors outside auto are more optimistic, with Titan management indicating that September showed some recovery in jewellery and watch sales. It is too soon however, to suggest a recovery. For that to happen, broader consumer and manufacturing numbers need to show a strong uptick. 

Global markets have mixed cues, with the bump in share prices from US and China resuming trade talks, fading. Equity markets were higher in South Korea and Japan, while they fell in China. Hong Kong was flat. The UK Parliament passed a law against no-deal Brexit happening in October, and providing for a three year extension.