The domestic stock markets are likely to open in the green, post the losses witnessed in the previous session, going by early cues from SGX Nifty trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 50 points gain. At 7:30 am, the Nifty futures were trading at 11,825, higher by 50 points or 0.5 per cent, on the Singapore Stock Exchange.
Asian markets look set to open mixed on Tuesday after soaring global coronavirus cases and shrinking hopes for a U.S. stimulus deal took a toll on Wall Street and drove up the U.S. dollar.
Australia's ASX 200 opened down about 0.6 per cent, while Japan's Nikkei 225 futures were up 0.04 per cent and Hong Kong's Hang Seng index futures were up 0.1 per cent.
U.S. stocks tumbled on Monday in thin trade, with the S&P 500 posting its biggest daily decline in four weeks, as soaring coronavirus cases and uncertainty about a fiscal relief bill in Washington dimmed the outlook for the U.S. economic recovery.
The Dow Jones Industrial Average fell 2.29 per cent, the S&P 500 lost 1.86 per cent and Nasdaq Composite dropped 1.64 per cent.
Meanwhile, oil prices regained a semblance of stability on Tuesday after suffering sharp losses over the previous session and last week, as a resurgence of coronavirus cases globally hit prospects for crude demand while increasing supply also hurt sentiment.
Brent crude was up 12 cents, or 0.3 per cent, at $40.58 a barrel by 0039 GMT, having dropped more than 3 per cent overnight. U.S. oil was up 13 cents, at $38.69 a barrel, after also declining more than 3 per cent on Monday.
On the corporate earnings front, Bharti Airtel, Tata Motors, Amara Raja Batteries, Castrol India, Ceat, ICICI Prudential Life Insurance Company and JM Financial will declare their Q2 numbers during the day.
On Monday, the BSE Sensex had plunged 540 points or 1.33 per cent to 40,145.50 and the NSE Nifty had shed 162.60 points or 1.36 per cent to 11,767.80.