Indian stock markets on Tuesday are likely to be under pressure as Moody's Investors Service downgraded India's sovereign rating and due to weakness among global peers.
Trends in SGX Nifty indicate a soft opening for domestic benchmark indices. India’s sovereign credit rating was cut by a notch to the lowest investment grade with negative outlook by Moody’s, which cited growing risks that Asia’s third-largest economy will face a prolonged period of slower growth amid rising debt and persistent stress in parts of the financial system. “Moody's decision to lower India's rating is a reflection of the stress in Indian economy and fiscal situation that has been amplified by the virus outbreak.