Good Morning!
Indian equities snapped a six-session winning streak on Tuesday after a near 10% jump since the start of February.
The S&P BSE Sensex fell more than 500 points from the day’s high, while the NSE Nifty 50 dropped 150 points.
Futures, however, are indicating a start with gains to Wednesday’s session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.35% to 15,170 as of 8:15 a.m.
Tata Steel, Akzo Nobel, Mahanagar Gas, among others, may react to their quarterly results reported after market hours on Tuesday.
Four Nifty 50 companies — Eicher Motors, GAIL, Hindalco and Titan — will announce their earnings on Wednesday, along with broader market stocks such as Aurobindo Pharma, Bata, BEML, Happiest Minds Technologies and Indraprastha Gas.
Asian equities have pushed higher after a muted start to the morning trade. Markets in Hong Kong are leading the advance, while China’s markets will remain shut for a week due to the Lunar New Year holiday.
Futures on the Dow Jones are trading 100 points higher. The index ended little changed on Tuesday.
West Texas Intermediate crude traded flat at $58.29 per barrel, while bitcoin pulled back from its record high.