The Indian market is likely to have a negative opening today due to persisting weak global cues.

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Asian stocks slipped and the US dollar advanced on Tuesday, as a deluge of US government debt this week and the spectre of inflation and a higher fiscal deficit drove US borrowing costs near four-year highs.

The US market largely ended flat as the benchmark indices, Dow and S&P, ended near flatline and Nasdaq shed 0.2%. Dow Jones posted a four-day losing streak.

Watch: Here's what experts have to say on the markets today

US bond prices have fallen for the past four days, pushing up the 10-year yield to 2.998%, its highest level since January 2014.

Japan's Nikkei, though in the green, is slipping towards its low point in early trade while Korea's KOSPI is shedding nearly 0.8% and is trading at its day's low.

The SGX Nifty is trading at levels around 10,550 as against the Nifty April Future's Monday close of 10,585.5, indicating a negative opening for the Dalal Street today.

On crude, international oil prices hit their highest levels since late 2014 on Tuesday, pushed up by expectations of renewed US sanctions against Iran and as OPEC continues withholding supplies amid strong demand.

Indian markets on Monday closed with minor gains but slipped from early highs.

TCS, which hit a market cap of $102 billion intra-day, slipped 4% from its high to close with minor gains of 0.2%.

IT stocks, that was kept market higher for major part of the day, failed to hold on to gains. Infosys, HCL Tech, Tech Mahindra and other IT stocks also faced the same fate.

Other drags on the market were FMCG and stocks from the capital goods space.

First Published:Apr 24, 2018 7:25 AM IST