Moneycontrol News

The Nifty50 is likely to open lower on Tuesday following muted trend seen in other Asian markets. The Nifty closed 59 points lower at 10,762 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 25.5 points or 0.24 percent. Nifty futures were trading around 10,735-level on the Singaporean Exchange.

An escalating trade dispute between the United States and other leading economies battered US stocks on Monday, handing the S&P 500 and Nasdaq their steepest losses in more than two months, said a Reuters report.

Global stocks extended a sell-off on Tuesday as mounting trade tensions between the United States and other major economies continued to steer investors away from riskier assets, lifting safe-haven US Treasuries and keeping the dollar on the defensive, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. Japan’s Nikkei lost 0.8 percent, South Korea’s KOSPI fell 0.55 percent and Australian stocks dropped 0.6 percent.

Oil prices rose on Tuesday on uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output continued to drag. Brent crude.