Nifty 50 set to open lower amid Iran transit threat
Indian stock markets are expected to open lower this Tuesday, with global worries and fresh geopolitical tensions weighing things down.
The Nifty 50 slipped slightly on Monday, closing at 24,219.05, as gains in metals and IT could not balance out losses in financials, especially public sector banks.
Iran's threat to restrict transit through the Strait of Hormuz ahead of US sanctions has added to the uncertainty.
US stocks mixed, semiconductors weak
US stocks were all over the place: the Dow was up a bit, but the S&P 500 and the Nasdaq dipped thanks to weak semiconductor shares before NVIDIA's results.
Asian markets did not fare much better: Japan's Nikkei dropped 1% on tech pressure.
For India, Nifty might face resistance near 24,350 to 24,500; crude oil prices fell, which could help sentiment, and the rupee stood at 95.74 while Brent crude steadied near $90 after a sharp drop.