The Nifty50 is likely to open lower on Tuesday following muted trend seen in other Asian markets. The Nifty closed 17 points lower at 10,799.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 43 points or 0.40 percent. Nifty futures were trading around 10,748-level on the Singaporean Exchange.

US President Donald Trump threatened on Monday to impose a 10 percent tariff on USD 200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing, said a Reuters report.

Asian stocks extended a global downturn on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. Japan's Nikkei lost 0.45 percent, South Korea's KOSPI edged down 0.1 percent while Australian stocks added 0.3 percent.

Oil prices fell in early Asian trading on Tuesday on expectations that producer cartel OPEC and key ally Russia will gradually increase output after withholding supplies since 2017.