Indian equity markets may rebound after posting their biggest single-day drop since May on Monday. Investor wealth worth more than Rs 6.5 lakh crore was eroded on Monday as the benchmarks ended nearly 3% down amid a new Covid-19 strain in the U.K.
The fall even offset all the gains made by the benchmarks during the last six trading sessions.
But futures are pointing towards a gap-up opening for India’s markets on Tuesday. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 1.1% to 13,403 as of 8:00 a.m.
Sentiment across the Asia Pacific is subdued as most Asian equities are trading lower. Japanese markets are underperforming their peers.
Futures on the Dow Jones are currently trading 40 points lower. The index ended little changed on Monday.
West Texas Intermediate crude fell 0.3% to $47.81 per barrel, while gold rose 0.3% to $1,881.58/Oz.
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