Domestic stock markets are likely to start Tuesday's session on a lower note amid weakness in Asian peers where the coronavirus outbreak sobered investor sentiment. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - declined as much as 49.5 points to 12,023.50 ahead of the opening of Indian markets. At 8:29 am, the SGX Nifty futures were down 29.50 points - or 0.24 per cent - at 12,043.50.
Equities in other Asian markets fell following US markets, which retreated from record highs, after Apple said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.
The warning from the most valuable company in the US sobered investor optimism that economic stimulus by Beijing and other countries would protect the global economy from the effects of the epidemic.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.65 per cent while Tokyo's Nikkei slid 1.0 per cent.
On Monday, the S&P BSE Sensex index declined 202.05 points - or 0.49 per cent - to end at 41,055.69 and the broader NSE Nifty benchmark settled at 12,045.80, down 67.65 points - or 0.56 per cent - from the previous close, as the markets extended losses to a third straight day.
