Nifty Seen Opening Lower; Tata Motors, Bharti Airtel, Adani Ports In Focus
The Indian equity benchmarks are set to open lower as indicated by the Nifty futures traded on Singapore Exchange amid weak cues from other Asian markets. Nifty futures on Singapore Exchange also known as SGX Nifty futures fell 0.33 per cent or 53 points to 15,858. Asian stocks slipped on Tuesday, as the Delta coronavirus variant spread in key markets in the region and put Chinese authorities on high alert, rattling investor confidence.
Trade in Asia faced a weaker lead from Wall Street after investors there considered the impact the increasing number global cases of Delta could have on global economic growth.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.40 per cent in early trading.
Japan's Nikkei was off 0.85 per cent in early trade.
China's blue chip index CSI300 shed 0.80 per cent while Hong Kong's Hang Seng Index fell 0.83 per cent.
Overnight, US stocks reversed course on Monday to finish slightly lower, echoing a decline in oil and Treasury prices, as economic worries related to the Delta variant of the coronavirus outweighed optimism about infrastructure spending and corporate earnings.
Stocks initially cheered the announcement on Sunday by US senators of around $1 trillion in proposed infrastructure stimulus. A rebound in corporate profits also bolstered the case for owning stocks, even as markets stand near records and economic growth is expected to slow.
The Dow Jones Industrial Average fell 97.31 points, or 0.28 per cent, to 34,838.16, and the Nasdaq Composite added 8.39 points, or 0.06 per cent, to 14,681.07.
Back home, foreign institutional investors sold shares worth Rs 1,539.88 crore on Monday while domestic institutional investors bought shares worth Rs 1,505.82 crore.
Titan, Bharti Airtel and Adani Ports will be in focus among the Nifty 50 companies as they will report their June quarter earnings later in the day.
Tata Motors will be on investors' radar as the company announced that it will increase prices of its passenger vehicles effective from today.