After a sharp fall on Monday, the Indian equity market was eyeing a positive start on Tuesday. Major Asian hubs opened with gains on Tuesday, whereas US stocks registered mild cuts ahead of earnings. Crude prices held steady despite supply constraints from Libya. Domestic traders may lap up stocks at lower valuations. Here's breaking down the pre-market actions:
STATE OF THE MARKETS SGX Nifty signals positive startNifty futures on the Singapore Exchange traded 43.5 points, or 0.25 per cent, higher at 17,269.50, signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: Nifty50 on Monday made a 'Death Cross' as the 50-day simple moving average fell below its 200-day moving average. The last time the index made a 'Death Cross' was in March 2020.
- India VIX: The fear gauge spiked as much as 9 per cent to 19.34 level on Monday over its close at 17.78 on Wednesday.
Asian shares trade mixedAsian stocks opened mostly higher on Tuesday as investors bargain hunted shares that dipped after modest falls on Wall Street. However, those which resumed trading on Tuesday after a holiday in the previous session were under the selling pressure. MSCI's index of Asia-Pacific shares outside Japan was down by 0.14 per cent.
- Japan's Nikkei jumped 0.48%
- Australia's ASX 200 rallied 0.78%
- South Korea's Kospi gained 1.08%
- China's Shanghai added 0.28%
- Hong Kong's Hang Seng plunged 2.46%
US stocks fall on MondayUS stocks closed lower on Monday after a session which saw all three benchmarks slip between positive and negative territory, as investors contrasted Bank of America's positive earnings with surging bond yields ahead ...