Indian equity benchmarks are set to open lower as Nifty futures were traded on the Singapore Exchange amid weak global cues. Nifty futures also known as SGX Nifty futures on the Singapore Exchange fell 0.52 per cent, or 94 points, to 17,867. Meanwhile, Asian stocks fell and the safe-haven dollar strengthened on Tuesday, as the global energy crisis fueled inflationary fears, dampening investor sentiment ahead of US corporate earnings season.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9 per cent in early trade, when US stocks ended the previous session with light losses. US stock futures, the S&P 500 E-Minis, fell 0.43 percent.
Overnight, US stocks fell on Monday, seen whipping up between gains and losses as oil prices rose, which hit multiple-year peaks, fueled fears about rising prices and tighter monetary policy, stoking fears of the yen. against the dollar to a nearly three-year high. .
A rally in basic materials and energy stocks on higher oil prices initially lifted major US stock indices. But gains faded as investors focused on the start of US corporate earnings season next week.
The Dow Jones Industrial Average dropped 0.72 per cent, the S&P 500 0.69 per cent and the Nasdaq Composite 0.64 per cent.
Back home, foreign institutional investors sold shares worth Rs 1,303 crore and domestic institutional investors sold shares worth Rs 373 crore on Monday.
stock in focus
Tata Motors: The company informed the exchanges that its global wholesales, including Jaguar Land Rover, grew 24 per cent year-on-year to 2,51,689 units in the second quarter of the current fiscal. Global wholesales across Tata Motors’ commercial vehicles and the Tata Daewoo range stood at 89,055 units in Q2, up 57 per cent over the same period last year.
Delta Corp: The company’s loss narrowed to Rs 22.57 crore in the September quarter from Rs 55 crore in the same quarter last year.
HCL Technology: The company said it has tied up with Google Cloud to launch innovative healthcare and life sciences solutions.