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Indian markets are likely to start the day in the red following a decline in Wall Street overnight as well as negative trends in the SGX Nifty. At 8:25 am, the SGX Nifty was trading 46 points or 0.27 percent lower around 17,234, indicating a negative start for the Indian indices. Investors remain cautious ahead of the RBI policy due later this week.

The Indian markets ended lower on Monday on the back of a broad-based selling across sectors ahead of the RBI policy. BSE Sensex fell 1,023 points to settle at 57,621 while the broader 50-share NSE Nifty50 dropped 302 points to close at 17,213.

Let's take a look at some key market cues before the market opens today:

Wall Street ended lower on Monday, as investors digested recent quarterly results from Facebook owner Meta Platforms and other largecaps, while Peloton jumped following reports of interest from potential buyers, including Amazon. The Dow Jones Industrial Average remained unchanged to end at 35,091.13 points, while the S&amp;P 500 lost 0.37 percent to 4,483.87. The Nasdaq Composite dropped 0.58 percent to 14,015.67.

Asian stocks gained on Tuesday as traders weighed the resilience of the global recovery to tightening monetary policy. Shares advanced in Japan, Australia and South Korea, shrugging off a reversal on Wall Street on Monday as technology stocks struggled.

Oil prices eased on Tuesday morning ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal of sanctions on Iranian oil sales, increasing global supplies. Brent crude was last down 36 cents, or 0.4 percent, at $92.33 a barrel while U.S. West Texas Intermediate crude eased 26 cents, or 0.3 percent, to $91.06 a barrel.

At 8:25 am, the SGX Nifty was trading 46 points or 0.27 percent lower around 17,234, indicating a negative start for the Indian indices.

The Indian rupee ended at Rs. 74.97 against the US Dollar on Monday.

Prices were steady on Tuesday as inflationary pressures kept the safe-haven metal-supported near the previous session's one-week high, while market participants awaited U.S. inflation data that is crucial for the Federal Reserve's tapering timeline.

Firms like Bharti Airtel, IRCTC, JSPL, Godrej Consumer, Bajaj Electricals, Escorts, Bata India, MGL, etc. are likely to report their December quarter earnings during the day.

The Monetary Policy Committee (MPC) meet will begin today till February 10. Experts believe the RBI MPC is likely to raise the reverse repo rate in this upcoming monetary policy review. The meeting was postponed by a day in view of Maharashtra declaring a public holiday on February 7 to mourn the death of singer Lata Mangeshkar.

Adani Wilmar will make its debut on stock exchanges BSE and NSE on Tuesday, February 8. The IPO of Adani Wilmar was a 50:50 joint venture between the Adani Group and Singapore's Wilmar Group and was open for subscription between January 27 and January 31. The issue was subscribed more than 17 times.

Before Market Opens: 9 things to know at 9 am on Feb 8, 2022

Stocks

Let's take a look at some key market cues before the market opens today.

Investors in stock markets in India lost ₹2.8 lakh crore in trade yesterday alone and ₹5.8 lakh crore of wealth has been wiped out in past three trading sessions. Let's take a look at some key market cues before the market opens today.

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