The Indian equity benchmarks are set to open marginally lower as indicated by the Nifty futures on Singapore Exchange amid subdued cues from other Asian markets. The Nifty futures on Singapore Exchange also known as SGX Nifty futures fell 0.11 per cent or 17 points to 15,725. Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
MSCI’s gauge of Asia Pacific stocks outside Japan fell as much as 0.29 per cent, with Australia’s S&P/ASX 200 down 0.39 per cent.
Japan’s Nikkei 225 hit a six-month low in early trade and widened the losses to 1.05 per cent.
The Hang Seng Index opened 0.3 per cent lower and China’s benchmark CSI300 Index slid 0.7 per cent at the start.
Overnight, stocks on Wall Street fell as much as 2 per cent on Monday, with the Dow posting its worst day in nine months, as a rise in worldwide coronavirus cases and increasing U.S. deaths drove investors out of risky assets, crushing bond yields and share prices.
Oil prices plunged more than 6 per cent, driven down both by worries about future demand and by an OPEC+ agreement to increase supply.
Back home, foreign institutional investors sold shares worth Rs 2,198.71 crore on Monday while domestic institutional investors bought shares worth Rs 1,047.66 crore.
HCL Technologies will be in focus after it reported net profit of Rs 3,213 crore, a jump of 9.5 per cent from the year ago period.
ACC will be on investors’ radar after it reported jump of 110 per cent in second quarter of current fiscal to Rs 534 crore.
Bajaj Finance and Asian Paints will also be in focus as they will report their June quarter earnings later in the day.