Indian equity benchmarks on Tuesday are likely to open in green, pausing a four-day losing run even as global markets remained jittery on economic growth concerns. Asian stocks were mixed as Japan’s Nikkei index rose 0.83 per cent, South Korea’s KOSPI fell 0.27 per cent, Shanghai Composite index edged 0.02 per cent higher and Hong Kong’s Hang Seng Index dropped 0.94 per cent.
Overnight, spillover to US markets drove Wall Street deeper into a bear market. After two weeks of losses, the Dow Jones Industrial Average confirmed on Monday that it was in a bear market, tracing its start to declines in early January.
The S&P 500 index confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year’s overall sell-off.
Back home, the benchmark BSE Sensex had crashed 954 points or 1.64 per cent to close at 57,145, while the broader NSE Nifty had moved 311 points or 1.80 per cent lower to settle at 17,016.
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