Sensex, Nifty Set To Open Lower; Jubilant Foodworks, JSW Energy, Amara Raja, BSE In Focus

Asian markets opened on a cautious note Tuesday following another selloff in US stocks, soaring bond yields and volatile currency markets as investors brace for a heightened risk of global recession.

Shares edged higher in Japan and Australia after three days of losses in those two markets while equity futures pointed to a decline in Hong Kong. U.S. contracts made small gains after the S&P 500 closed at its lowest since 2020 and the CBOE Volatility Index spiked past 30, a level it hasn’t closed above since June.

At 6:40 a.m., the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–fell 0.3% to 16,971.5 points.

Bonds remained under pressure in Australia and Japan while benchmark 10-year Treasury yield held near 3.9%–a level last seen in 2010.

The dollar gauge inched back from a record high Monday, when Federal Reserve officials repeated hawkish comments on policy. Asian currencies including the yen and yuan strengthened slightly while staying around levels that have caused concern from authorities in both countries.

The Indian rupee, meanwhile, has plumbed to record lows.