Markets are likely to start trade in a narrow range amid volatile global sentiments ahead of the US Federal Reserve’s rate action trajectory. As of 8:05 AM, the SGX Nifty Futures quoted at 16,585 levels, indicating a downside of 46 odd-points on the Nifty50.
Globally, the US markets were mixed on Monday as Dow Jones and S&P 500 advanced 0.3 per cent and 0.1 per cent, respectively. However, investors turned away from growth stocks as NASDAQ Composite slipped 0.4 per cent.
That said, Asia-Pacific markets moved in tandem on Tuesday morning. Japan’s Nikkei 225 shed 0.2 per cent, whereas, South Korea’s Kospi rose 0.4 per cent on the back of strong first quarter 2022 GDP.
Meanwhile, prices of crude oil edger higher in trade on demand fears. Brent Crude hovered around $106 per barrel and WTI Crude was at $97 per barrel.
Back home, investors will follow a slew of corporate earnings slated to report their June quarter results (Q1FY23) on Tuesday, July 26 – Asian Paints, Bajaj Auto, and Tata Power. Besides, Lupin received approval from the US health regulator to market generic drug for treatment of high blood pressure.
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