Indian equity markets are poised for a cautious opening on Tuesday, with the Gift Nifty trading at a discount of nearly 28 points from the previous close of Nifty futures.
The indicator hovered around the 24,000 level, signaling a likely gap-down start for the benchmark Sensex and Nifty 50 indices as investors digest overnight losses in global markets.
The negative sentiment was driven by a broad sell-off in US technology stocks, particularly in the semiconductor sector, which weighed on risk appetite across Asian trading sessions.
Asian markets traded lower on Monday, extending the pressure on Indian equities ahead of the domestic open.
The weakness in US chip stocks reflects ongoing concerns about valuation multiples and potential regulatory headwinds, which have begun to spill over into emerging market tech plays.
Oil prices also contributed to the cautious mood, with crude benchmarks facing volatility amid ongoing US-Iran peace talks.