The BSE Sensex and NSE Nifty are likely to open on a flat note with negative bias on Tuesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and weak global cues.
At 8.16 am (IST), SGX Nifty was down 6.50 points, or 0.08 per cent, at 7,730.50.
Asian peers were trading in red on Tuesday, while the dollar rebounded from steep losses against the yen in the previous session. Hang Seng, Nikkei and Shanghai were down by 0.18 per cent, 0.67 per cent and 0.96 per cent, respectively.
Wall Street also ended lower on Monday as a bounce in Apple failed to offset concerns that the US Federal Reserve could raise interest rates sooner than later. The Dow Jones Industrial Average declined 0.05 per cent to end at 17,492.93 points and the S&P 500 lost 0.21 per cent to 2,048.04. The Nasdaq Composite dipped 0.08 per cent to 4,765.78.
The BSE Sensex on Monday fell 71.54 points to a two-week low following sustained foreign outflows on caution ahead of a likely US rate hike in June and weakness across global markets due to subdued commodity prices.
Shares of Mahindra & Mahindra (M&M) will remain in focus on Tuesday after the National Green Tribunal (NGT) on Monday banned light and heavy diesel vehicles more than 10-year-old in six major cities of Kerala.
VRL Logistics will also remain in limelight after promoters of VRL Logistics on Monday said they plan to start a regional airline. The chairman of the transport and logistics firm Vijay Sankeshwar alongwith Managing Director Anand Sankeshwar express their intent to enter the new business activity in a letter to the Board of Directors.
(With agency inputs)