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Markets are likely to open lower amidst subdued global cues and profit taking at higher levels. The SGX Nifty was down 13 points or 0.2% at 6,217.
Overnight, in US, the S&P 500 and the Nasdaq ended lower on Monday while the Dow failed to close above its milestone level of 16,000 as stocks sold off late in the session following Carl Icahn's cautious comments on the equities market.
The Dow and the S&P 500 retreated from record levels with less than an hour to go in Monday's session. The Nasdaq, which had been down slightly for most of the day, fell 1.1% to a session low.
The Dow Jones industrial average rose 0.09%, to end at 15,976. The Standard & Poor's 500 Index slipped 0.37%, to finish at 1,791. The Nasdaq Composite Index slid 0.93%, to end at 3,950.
Asian shares slipped back from a two-week high on Tuesday after the previous session's hefty gains on China's economic reform plans, while the dollar was on the defensive on expectations the Federal Reserve will keep its stimulus a little longer.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1%, giving up some of Monday's 1.4% rally driven by sharp jump in Chinese stocks.
China's CSI300 Index surged 3.3% on Monday, its biggest one-day rise in two months, to hit a four-week peak.
Stocks to Watch
Infosys may see some red as Stephen Pratt, Infosys executive council member and head of utilities and resources for North America, has resigned from the company.
SpiceJet may fly higher as the domestic low-cost carrier is set to buy 40-50 Boeing 737 Max plane, a source familiar with the development said.
Jet Airways will be in spotlight as Tail Winds, a promoter entity of Jet Airways, today offloaded 7.89% stake for over Rs 211 crore in the open market, as Naresh Goyal-led Indian carrier gears up to complete the 24% stake sale to Etihad.
Indian Oil Corp may see some moves as the government will this week hold investor meets in Singapore and Hong Kong for sale of its 10% stake in nation's largest oil firm.
Hindustan Motors is likely to see with a green tick as the company reported a profit of Rs 29 lakhs for the quarter ended September, 2013-14 fiscal.
Reliance Industries may see some moves as the oil&gas major will provide a bank guarantee of USD 135 million every quarter to get a higher price for natural gas from April 1 next year.
