The Indian equities benchmark is likely to open on a negative note on Tuesday, as indicated by the Nifty Futures trading at the Singapore Exchange. The SGX index was trading 76 points or 0.48 per cent lower at 15,702 .
The 30-share BSE Sensex plunged 1,457 points or 2.68 per cent at 52,846, whereas the broader NSE Nifty 50 index tanked 427.40 points or 2.64 per cent at 15,774 on Monday.
The major indices in the US were trading lower on Monday as the fear of a more aggressive policy by the Federal Reserve to tame inflation gripped investors’ sentiments, and the treasury yields surged to an all-time high this year. The S&P 500 declined 151.23 points or 3.9 per cent to 3,749, whereas the Dow Jones Industrial Average slumped 876.50 points or 2.8 per cent to 30,516. The Nasdaq Composite fell 530.80 points or 4.7 per cent to 10,809.
The major indices in Asia were trading lower on Tuesday following the decline of US stocks on Monday. The MSCI’s broadest index of Asia-Pacific shares outside Japan was trading 0.9 per cent lower. Japan’s Nikkei 225 slumped 2.00 per cent, whereas South Korea’s KOSPI was down 1.33 per cent. Hang Seng index was trading lower at 0.77 per cent. While China’s Shanghai Composite declined 0.39 per cent, Shenzhen Component was trading 1.49 per cent lower.
FII and DII
The foreign institutional investors (FII) continued to remain the net sellers worth Rs 4,164 crore, whereas the domestic institutional investors (DII) remained the net buyers worth Rs 2,814 crore on Monday, according to the data available on NSE.
Crude Oil Prices
Crude oil prices fluctuated between positive and negative territory in the early hours on Tuesday as the Covid-19 cases continue to surge in China. Brent crude futures was down six cents to $122.21 per barrel whereas the US West Texas Intermediate crude eased four cents to $120.89 per barrel at 0156 GMT.
The Indian Rupee declined 11 paise, hitting an all-time low of 78.04 against the US Dollar on Monday.
Stocks In Focus
Bajaj Finance, Zomato, Metropolis Healthcare, Torrent Power, Zydus Lifesciences, Aether Industries, Dynamatic Technologies, Capri Global Capital, WPIL and Delta Corp.