The 50-share Nifty index is expected to open lower with a gap on Tuesday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological level of 7,850-7,900 in trade today. At 08:00 A.M., Nifty India stock futures in Singapore were trading 112 points lower at 7,888 indicating a gap-down opening on the domestic market.
Benchmark indices ended nearly 0.5 percent lower on Monday. The BSE index lost 6.51 percent in August and the NSE index shed 6.58 percent, their worst monthly performance since November 2011. Market participants would also react to Q1 GDP data which came out post market hours on Monday. India's Gross Domestic Product (GDP) growth for the first quarter of the current financial year grew at 7% versus 6.7% YoY (versus 7.5% QoQ). Manufacturing growth slowed down to 7.2% versus 8.4% YoY.
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