Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 61 points at the opening bell.

Overseas, most Asian stocks were trading lower on Tuesday after the International Monetary Fund cut its global growth forecasts, primarily due to a sharp slowdown in India and other emerging markets.

In US, markets were closed for a holiday in observance of Martin Luther King Jr. Day.

Back home, after attaining record high levels in early trade, key equity barometers reversed trend and ended near the day's low on Monday. The Q3 earnings of index majors such as Reliance Industries, HDFC Bank, TCS and Kotak Mahindra Bank failed to impress investors. The barometer BSE S&P Sensex fell 416.46 points or 0.99% to 41,528.91. The Nifty 50 index lost 121.60 points or 0.98% to 12,230.75.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 5.87 crore yesterday, 20 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 1419.85 crore, yesterday, 20 January 2020, as per provisional data.