Indices may open slightly lower

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 20 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly up on Tuesday, with investors continuing to monitor the global economic recovery from COVID-19.

Chinese President Xi Jinping cautioned against a rapid rise in interest rates on Monday that could derail the global recovery from the coronavirus pandemic.

U.S. markets remained closed on Monday for Martin Luther King Jr. Day.

Meanwhile, the Organization of the Petroleum Exporting Countries, or OPEC, is due to release its monthly oil market report on Tuesday where traders are likely to watch for signs that global oil demand has been affected by the surge in Covid cases around the world.

Domestic markets:

Back home, the domestic equity benchmarks ended with minor gains on Monday. The barometer index, the S&P BSE Sensex, gained 85.88 points or 0.14% to 61,308.91. The Nifty 50 index gained 52.35 points or 0.29% to 18,308.10.

Foreign portfolio investors (FPIs) sold shares worth Rs 855.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 115.31 crore in the Indian equity market on 17 January, provisional data showed.

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