Stock market LIVE updates: Indian equity markets may pause today after Monday’s stellar rally, with SGX Nifty futures trading 32 points down at 14,463 around 7.15 am, tracking weak cues from global peers. Besides a financial stability report by the Reserve Bank that raises concerns on the banks’ financial health might also dampen the mood.
In overnight trade, Wall Street’s main indices closed lower as investors believe a bigger stimulus could be delayed as House of Democrats introduced a resolution to impeach US President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol by his supporters.
Dow Jones Industrial Average fell 0.29 per cent, the S&P 500 lost 0.66 per cent and the Nasdaq Composite dropped 1.25 per cent.
Tracking a weak finish for Wall Street, markets in Asia opened lower. Japan’s Nikkei slipped 0.48 per cent, South Korea’s KOSPI fell 0.91 per cent, and Hong Kong’s Hang Seng index futures lost 0.54 per cent.
Oil prices slipped on Tuesday as investors remained concerned about climbing coronavirus cases globally. After falling on Monday, Brent crude oil futures slipped 0.2 per cent to $55.57 a barrel while US West Texas Intermediate (WTI) fell by 0.2 per cent to $52.17 a barrel.
Meanwhile, Brent oil prices could rise to $65 per barrel by summer 2021, Goldman Sachs said on Monday, driven by output cuts in Saudi Arabia and the implications of a shift in power to the Democrats in the United States.
Karnataka Bank, Tata Elxsi, Steel Strips Wheels are among 10 other firms scheduled to release their December quarter results today.
(With inputs from Reuters)