Indian equity markets are likely to start Tuesday’s trade on a positive note, supported by steady foreign flows, drop in crude oil prices, and hopes of softened rate hike cycle.
At 8:00 am, the SGX Nifty quoted at 18,181 levels, indicating an upside of 120 points.
Globally, weak big tech earnings weighed on the US markets overnight. Dow Jones, the S&P 500, and NASDAQ Composite slipped up to 1 per cent.
Asia-Pacific markets, however, edged higher in Tuesday’s trade as key indices Nikkei 225, Topix, Kospi, the S&P 200, Hang Seng, and Shanghai Composite added up to 2 per cent.
On the commodities front, extended Chinese covid-19 curbs and weaker dollar propelled prices of Brent Crude fall below $95 per barrel. WTI Crude, on the other hand, hovered around $87 per barrel.
Back home, quarterly earnings season and auto sales numbers will gather centre-stage. Companies like Sun Pharma, Adani Ports, and Tech Mahindra, among others will report the July-September quarter (Q2FY23) results today.
Among individual stocks, investors will track shares of Bharti Airtel after the company’s consolidated net profit jumped 89 per cent YoY to Rs 2,145 crore in Q2FY23