Wall Street equities were mixed on Tuesday, after data showed that retail inflation in the U.S. rose 6.4% year-on-year in January, above the expectations of 6.2%. Consumer prices rose 0.5% month-on-month.
The higher-than-expected inflation data heightened fears of further rate hikes by the U.S. Federal Reserve in its efforts to tame inflation.
Asian markets declined, with the MSCI's broadest index of Asia-Pacific shares outside Japan losing 1.35%. [MKTS/GLOB]
Meanwhile, the ongoing uncertainty in Adani Group stocks could continue to overshadow domestic equities.
The conglomerate, on Tuesday, said the group companies did not face any material refinancing risk or near-term liquidity issues in an attempt to calm frayed investor nerves after the critical report by U.S. short-seller Hindenburg on its business practices on Jan. 24.
Foreign institutional investors bought a net 13.05 billion rupees ($157.5 million) worth of equities on Tuesday. FIIs have remained net buyers over the last three sessions. They have sold 442.51 billion rupees of shares thus far this year.
STOCKS TO WATCH ** Apollo Hospitals: Co posts fall in consolidated net profit in third quarter as digital health business weighs.
** ONGC: Co reports rise in quarterly profit on higher crude, gas prices.
** Biocon: Co reports consolidated net loss in third quarter.
** Prestige Estate Projects: Co reports a surge in third-quarter profit.
** Vodafone Idea: Co reports wider net loss in third quarter.
($1 = 82.8570 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil)