GIFT Nifty futures down 6 pts; markets likely to start on a muted note

GIFT Nifty, which serves as an early indicator for Indian equities, traded lower by 5.5 points at 22,421 on Tuesday, suggesting a flat to negative opening for Dalal Street. After a strong recovery last week, traders will closely watch global developments in a holiday-shortened trading week.

Wall Street ends higher despite trade concerns
As global trade war fears escalates, Wall Street in the overnight session saw steep losses, with the Nasdaq index slumping 4 per cent, while Dow Jones and S&P 500 ended over 2 per cent lower each.

Asian markets mostly lower
Asian equities tracking weak global sentiment continued to trade lower for the third consecutive day on Tuesday. The key MSCI Asia ex Japan index was down a significant over 1 per cent as at the last count.

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• Japan's Nikkei was down 1.7 per cent
• Singapore's Straits Times was down 1.6 per cent
• South Korea's Kospi fell 1.55 per cent

Oil prices continued to edge lower anticipating a slowdown in demand amid the ongoing tariff action.