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Indian benchmark indices closed lower on Monday after a flat start. The Sensex closed at 52,852.27, down 123.53 points or 0.23%, while Nifty was at 15,824.45, down 31.60 points or 0.20%. Realty, PSU banks and auto were top drags on Monday. On the 30-share Sensex, Ultratech, Sun Pharma, and nine other stocks closed in green, SBI, RIL, M&M, and 16 other stocks closed in red.

US markets: U.S. equities extended their run to all-time highs on Monday. The S&P 500 hit a new peak, with Tesla Inc. the latest firm to post better-than-expected results. The Nasdaq 100 and Dow Jones Industrial Average also ended at all-time highs.

Asian markets: Asian stocks made modest gains early Tuesday as traders assessed steep losses in Chinese stocks sparked by Beijing’s sweeping regulatory overhaul as well as another record close on Wall Street. Shares rose in Japan, Australia and South Korea.

SGX Nifty: Trends on SGX Nifty indicate a positive opening for the Indian markets on Tuesday with an with an upside gap of over 90 points.

Earnings: Tata Motors Ltd plunged to a wider-than-expected consolidated loss in the June quarter as a shortage of semiconductor chips hit production at its Jaguar Land Rover (JLR) unit. Its loss narrowed to 4,450.92 crore as compared to net loss of 8,438 crore in the year-ago period.

Separately, Private lender Axis Bank standalone net profit for the quarter ended 30 June, 2021, rose 94% year-on-year to 2,160 crore. The lender had posted a net profit of 1,112 crore in the year-ago period. The lender's net interest income also rose 11% year-on-year to 7,760 crore from 6,985 crore in Q1FY21.

Infrastructure company Larsen & Toubro (L&T) also reported earnings on Monday. The company posted a consolidated net profit of 1,174 crore, up 287% year-on-year primarily on low-base effect, as against 303 crore net profit in the year-ago period.

Earnings today: Pharma major Dr Reddy's, IndiGo, IndusInd Bank, Torrent Pharma, Canara Bank are some of the companies scheduled to report their June quarter financial results today.

(With inputs from agencies)

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