Markets likely to open in the red on negative global cues

Indian equity markets are likely to open tad lower on Tuesday tracking negative cues from Asian peers and slightly lower close overnight on Wall Street. The SGX Nifty is trading at 10,392 with loss of 9 points. 

The stocks of companies like Ajanta Pharma, Capital First, Bharti Airtel, Container Corp, Dabur India, Divi’s Laboratories, Dr Reddy’s Laboratories, Escorts, Future Retail, IDBI Bank, Info Edge, InterGlobe Aviation, JSW Steel, KPIT Technologies, Sintex Plastics Technology, Stride Shasun and Syndicate Bank will be in focus today as these companies are expected to announce earnings today.   

The Asian stock markets saw modest losses in early morning trading on Tuesday. Japan's Nikkei 225 has slid 0.37%, Hong Kong’s Hang Seng has edged down 0.22% and China’s Shanghai Composite has shed 0.28%.  

Back home, Indian stock market eked out modest gains with Sensex rising for the sixth straight day. Both Sensex and Nifty hit records highs on a closing basis. The BSE Sensex jumped 109 points to close at 33,266 while Nifty gained 41 points to close at 10,364. The broader market outperformed the benchmark indices with Nifty Mid-Cap and Small Cap index gaining more than 1% each.  

The US stocks saw modest weakness during trading on Monday as a report indicating that the House of Representatives is discussing a gradual phase-in for the corporate tax-rate cut rather than enacting them immediately weighed on investors’ confidence. The Dow Jones dipped 86 points to settle at 23,349, S&P 500 fell 8 points to close at 2,573 and the tech-heavy Nasdaq lost 2 points to finish at 6,699.  

The European markets had a mixed outing on Monday. The French CAC 40 index dipped 0.01%, FTSE 100 of the UK shed 0.23%, while the German DAX added 0.09%