Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 35 points at the opening bell.

Asian shares are trading lower as the IMF lowered its global growth outlook and as tensions over tariffs between the United States and Europe escalated.

Overseas, U.S. stocks closed lower Tuesday, with the S&P 500 snapping its eight-day winning streak, on fears over escalation of trade tensions with the European Union and a weaker global outlook from the International Monetary Fund.

The office of the U.S. Trade Representative threatened to levy tariffs on many European goods late Monday. The threat is a retaliation against European companies' subsidies for aircraft manufacturer Airbus. If the U.S. follows through, the proposed tariffs would affect about $11 billion in imports to the U.S., including helicopters, bicycles, cheese and wine. Lighthizer said the Trump administration would wait for World Trade Organization clearance to implement the duties.

The IMF lowered the outlook for global economic growth in 2019 to 3.3% from 3.5% projected in January, marking its third reduction of growth expectations in six months. The decline has been broadly felt, with all advanced economies, including the U.S., and most major emerging-market economies seeing deterioration in their outlook.

Back home, key equity benchmarks settled with modest gains yesterday, 9 April 2019 supported by firmness in index stocks. The Sensex rose 238.69 points or 0.62% to settle at 38,939.22. The Nifty 50 index rose 67.45 points or 0.58% to settle at 11,671.95.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1,212.35 crore yesterday, 9 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 688.65 crore yesterday, 9 April 2019, as per provisional data.

Among corporate news, IndusInd Bank priced its maiden USD bond issuance in the offshore public markets. The bank raised $400 million at a coupon rate of 3.875% per annum, payable semi-annually. Notes will be listed on Singapore SGX and the India INX, Gift City. The announcement was made after trading hours yesterday, 9 April 2019.