After two days of strong gains, Indian benchmark indices could take a breather amid tepid global market cues and some profit-taking at the higher levels. Although, lack of a fresh spurt in Covid cases could help cap the downside. Besides, the Q4 earnings season has been healthy so far, providing support to market sentiments.
At 7.30 am, SGX Nifty was trading 80 points lower at 15,081, indicating a negative start for the benchmark indices.
In the overnight session, US stocks declined for a second day with losses steepening in the final 15 minutes of trading as investors weighed the rush to reopen the economy against inflationary pressure from a rise in commodity prices.