Markets Live: SGX Nifty Indicates Flat Start; TCS, Bandhan Bank, Muthoot Finance In Focus

Good Morning!

Indian equities fell the most in over a month on Monday amid a surge in coronavirus cases across the country, wiping off Rs 8 lakh crore worth of investor wealth.

The fall in broader markets was steeper than the benchmarks. The Nifty Midcap index fell 5.7%, while the Smallcap index declined 5.6%, the most in more than a year.

All sectoral indices ended the day with losses; most saw the biggest single-day drop since May last year. The PSU Bank index was the top sectoral laggard, ending 9.3% lower, followed by Nifty Media (down 8.1%), Nifty Realty (down 7.5%), Nifty Metal (down 6.1%), and Nifty Auto (over 5%).

Futures are again indicating a subdued start to Tuesday's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, were little changed at 14,373 as of 8:00 a.m.

Markets will also watch out for Tata Consultancy Services Ltd. after it reported fourth-quarter results post market hours on Monday.

Most Asian equities have edged higher this morning with peers on Wall Street trading near record highs. Benchmark indices rose in Hong Kong and Japan, while those in China fluctuated.

• Futures on the Dow Jones are trading 20 points higher. The index declined 0.2% on Monday.

• Yields on the 10-year treasuries stood at 1.67%, while West Texas Intermediate crude traded at $59.71 per barrel.