MARKET LIVE: Choppy start likely on weak global cues; SGX Nifty down 114pts

A choppy start is on cards for Indian equity markets on the back of unsupportive global cues and rise in crude oil prices. As of 8:01 AM, the SGX Nifty quoted at 16,164 levels, down 114-odd points.

Globally, the US markets traded in a negative territory on Monday. Dow Jones dropped 0.6 per cent, while the S&P 500 and NASDAQ Composite shed 0.8 per cent, each.

That apart, major markets in Asia-Pacific were mixed on Tuesday morning as investors assessed the rate hike trajectory. Japan’s Nikkei 225 rose 0.6 per cent, whereas South Korea’s Kospi declined 0.4 per cent.

Meanwhile, crude derivative stocks will be in focus on Tuesday as prices of crude oil climb above $100-mark. While Brent Crude hovered around $106 per barrel, WTI Crude was at $102 per barrel. 

Back home, shares of FMCG major Hindustan Unilever (HUL) will be in limelight as the company report their June quarter 2022 (Q1FY23) results. Besides, L&T’s realty arm signed projects worth Rs 8,000 crore in Mumbai as part of their expansion plans.

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