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The Indian equity benchmarks are likely to open on a positive note on Tuesday as indicated by the Nifty futures traded on the Singapore Exchange. The SGX index was trading 137 points or 0.78 per cent higher at 17,761.5.
On Monday, while the Sensex surged 300 points higher at 59,141, the Nifty 50 index was trading at 91.40 points higher at 17,622. .
Here are key things to know before the markets open on Tuesday.
The US stocks fell broadly on Monday indicating s stark warning from the US Federal Reserve about rapidly worsening trends in the economy. The S&P500 index traded 28.02 points or 0.7 per cent lower at 3,873, whereas the Dow Jones Industrial Average plunged 139.40 points or 0.5 per cent lower at 30,822. While the Nasdaq slipped 103.95 points or 0.9 per cent at 11,448, the Russell 2000 for smaller companies declined 27.04 points or 1.5 per cent to 1,798.
The Asian stocks were trading lower on Tuesday. Tokyo’s Nikkei 225 plunged 1.11 per cent, whereas South Korea’s KOSPI declined 0.91 per cent. Singapore’s Hang Seng index was trading 1.14 per cent lower. China’s Shanghai Composite plunged 0.36 per cent, whereas Shenzhen Component was trading higher at 0.40 per cent.
The foreign institutional investors remained the net sellers worth Rs 3,260 crore, whereas the domestic institutional investors sold shares worth Rs 36 crore on Monday.
Crude oil edged higher on Tuesday amidst the weaker dollar and supply chain concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand. Brent crude futures surged $1.1 or 1.3 per cent to $92.50 per barrel at 0049 GMT whereas US West Texas Intermediate advanced $1.05 or 1.2 per cent at $8.16 per barrel.
Gold prices inched higher on Monday. While the Spot gold surged 0.2 per cent at $1,677 per ounce, the US gold futures was trading 0.2 per cent higher at $1.686.
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