Pre-market Update: Indian markets likely to open lower; GIFT Nifty down 68 pts, US tensions weigh
Pre-market update: Indian equities are poised to open lower on Tuesday, tracking weak global cues and investor caution ahead of fresh US tariffs kicking in from Wednesday.
As of 7:35 AM, the GIFT Nifty was down 68 points, or 0.27%, indicating a soft start for domestic benchmarks.
Global Markets
Asian equities slipped as tensions escalated between US President Donald Trump and the Federal Reserve. The MSCI Asia Pacific index dropped 0.7%, led by Japan’s Nikkei (-1.09 per cent) and South Korea’s Kospi (-0.86 per cent). Risk sentiment weakened further after President Trump moved to dismiss Fed Governor Lisa Cook over alleged document falsification, while also threatening chip export curbs in response to digital services taxes abroad.
On Wall Street, key indices ended in the red. The S&P 500 fell 0.43 per cent and the Nasdaq declined 0.22 per cent, as hopes for near-term Fed rate cuts faded.
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Domestic Setup
No major economic data is due today, though markets will stay alert for any developments around the proposed GST 2.0 overhaul.
IPO Tracker
A busy day on the IPO front:
Mainboard listings: Shreeji Shipping Global, Gem Aromatics, Vikram Solar, and Patel Retail debut today.
Openings: Anlon Healthcare and Vikran Engineering IPOs open for subscription.
SME Segment:
Closing today: Anondita Medicare, Shivashrit Foods, Classic Electrodes
Ongoing: Globtier Infotech, NIS Management
Opening today: Current Infraprojects, Sattva Engineering Construction
Listing: LGT Business Connextions debuts
