Important Information For July 19 Stock Trading Strategy

The benchmark indices are likely to open in red on Tuesday as trends on SGX Nifty indicate a negative start for the broader index in India, with a loss 113 points or 0.69 percent. The Nifty futures were trading around 16,177 level on the Singaporean Exchange at 7:20 IST.

The Indian equity market extended the winning momentum for the second day in a row on July 18, supported by buying in heavyweights and across the sectors.

At close, the Sensex was up 760.37 points or 1.41 percent at 54,521.15, and the Nifty was up 229.30 points or 1.43 percent at 16,278.50.

BSE midcap and smallcap indices rose nearly 1.5 percent each.

Here are key things to know before the market opens on Tuesday:

Wall Street closes lower:

Wall Street ended lower on Monday after bank stocks erased earlier gains and Apple shares fell on a report saying the company plans to slow hiring and spending growth next year.

After posting solid gains to start the session following earnings from Bank of America Corp and Goldman Sachs Group Inc, the S&P financial sector weakened into the close.

The Dow Jones Industrial Average fell 215.65 points, or 0.69%, to 31,072.61, the S&P 500 lost 32.31 points, or 0.84%, to 3,830.85 and the Nasdaq Composite dropped 92.37 points, or 0.81%, to 11,360.05.

Oil prices fall:

Oil prices fell on Tuesday, taking a breather after surging more than $5 a barrel in the previous session as a plunging dollar supported buying interest and on expectations the U.S. Federal Reserve's interest rate hike may be less than thought.

Brent crude futures for September settlement fell 69 cents to $105.58 a barrel by 0036 GMT. The contract rose 5.1% on Monday, the biggest percentage gain since April 12.

WTI crude futures for August delivery fell 65 cents to $101.95 a barrel. The contract climbed 5.1% on Monday and the largest percentage gain since May 11.

Gold Prices Update:

Gold edged lower on Tuesday as an uptick in the U.S. dollar and bond yields weighed on bullion's appeal, with investors awaiting more cues on the Federal Reserve's rate-hike path.

Spot gold was down 0.2% to $1,706.25 per ounce by 0103 GMT. U.S. gold futures fell 0.3% to $1,705.30.

Asian Markets Today

That apart, major markets in Asia-Pacific were mixed on Tuesday morning as investors assessed the rate hike trajectory. Japan’s Nikkei 225 rose 0.6 per cent, whereas South Korea’s Kospi declined 0.4 per cent.

Stocks to Watch on Tuesday: 

Bank of Maharashtra, HeidelbergCement, Reliance, NTPC, Hindustan Unilever, HDFC Life Insurance, Ambuja Cements, ICICI Lombard, AM Small Finance, Polycab, Hatsun Agro, L&T Finance Holdings, and Network 18 Media will be in focus as they declare their June quarter earnings today. 

Rupee on Monday

The rupee declined to the low level of 80 against the US dollar in intra-day spot trading on Monday. At the end of the session, the rupee was 16 paise lower at 79.98 amid a surge in crude oil prices and unrelenting foreign fund outflows.