Tue Nov 05 20:58:29 UTC 2024: ## Asian Markets Cautious Ahead of US Elections, Indian Indices Dip
**Mumbai, India** – Asian markets traded lower on Tuesday morning, driven by investor caution ahead of the US elections. The outcome of the tight race between Donald Trump and Kamala Harris is expected to have significant global implications, and a close result could lead to protracted vote counting, according to Bloomberg.
The Nikkei 225 in Japan rose slightly by 0.77%, while the Kospi in South Korea fell 0.66%. The S&P ASX 200 in Australia dipped 0.57%.
Indian indices also closed lower on Monday, with the Nifty 50 settling at its lowest level in over a month. The index fell 1.27% to 23,995.35, while the Sensex dropped 1.18% to 78,782.24.
Foreign portfolio investors continued their selling spree for the 26th consecutive session, offloading stocks worth ₹4,329.8 crore. Domestic institutional investors, however, turned net buyers after a previous session of selling.
Several prominent Indian companies, including Gland Pharma, Raymond, Bajaj Finance, IRCTC, and Amara Raja, announced their second-quarter financial results on Tuesday.
The Indian rupee weakened by 3 paise to close at a record low of 84.11 against the US dollar, continuing its downward trend.
The IPO of Sagility India, a technology-focused company, is scheduled for Tuesday, with a price band of ₹28-30 per share.
The market remains watchful as the US election results unfold, with investors anticipating potential volatility in the days ahead.
First Piper 