Indian equity markets looked set to recover from previous day's selloff and open higher on Tuesday, but weak global risk appetite amidst simmering US-China trade worries are likely to weigh on investors' sentiment.
At 07:40 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, rose 0.17 percent to 11,046, indicating a mildly higher opening for the Indian market today.
Here is what you need to know before the market opens: Asia: MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent. Australian stocks lost 0.08 percent and Japan's Nikkei bucked the trend and edged up 0.2 percent. US: The Dow Jones Industrial Average fell 181.45 points, or 0.68 percent, to 26,562.05, the S&P 500 lost 10.3 points, or 0.35 percent, to 2,919.37, and the Nasdaq Composite added 6.29 points, or 0.08 percent, to 7,993.25. Dollar index: The dollar edged up to a two-month peak of 113.00 yen. The dollar index against a basket of six major currencies edged up 0.05 percent to 94.229. The euro traded little changed at $1.1753. The single currency had surged to a 3-1/2-month peak of $1.1815 on Monday. Crude oil prices: Brent crude futures were at $81.39 per barrel at 0042 GMT, up by 19 cents, or 0.2 percent from their last close. This was not far off the November 2014 high of $81.48 a barrel reached the previous day. Market at close on Monday: Indian shares ended at over two-month closing low on Monday in an extremely volatile session as the rupee weakened against the US dollar amid surging crude oil prices. Nifty that fell below 10,950 in the 1st half of the session, made a mild recovery to close at 10,967 with a fall of 176 points. The 30-share BSE index, Sensex fell 537 points to 36,305. Rupee: The Indian rupee closed at 72.63 a US dollar on Monday, depreciating 43 paise from Friday’s close of 72.20. FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 523.94 crore while domestic institutional investors bought shares worth Rs 1,527.67 crore in the Indian equity market on Monday. US-China Trade War: The United States and China imposed fresh tariffs on each other's goods on Monday as the world's biggest economies showed no signs of backing down from an increasingly bitter trade dispute that is expected to hit global economic growth. Fuel Price Hike: Fuel prices rose on Tuesday, with petrol registering a record high of Rs 90.22 a litre in Mumbai. Diesel prices too rose in the financial capital to Rs 78.69 a litre. ITR filing deadline extends: The government on Monday extended by a fortnight till October 15 the deadline for filing Income Tax Return (ITR) and audit report for financial year 2017-18. The Central Board of Direct Taxes (CBDT) had received representations from stakeholders seeking extension of the last date for filing of returns by taxpayers whose accounts have to be audited. (With input from agencies)
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