The green is likely to open lightly following cautious global cues in domestic stock markets. Trends on the SGX Nifty indicate a positive start for the index in India with a 14 point gain. At 7:30 am on the Singapore Stock Exchange, the Nifty futures was trading at 11,468, up 14 points or 0.1 percent.
Asian shares opened lower on Tuesday, as investors focused on upcoming data and central bank meetings, although losses are likely to be offset by positive developments around the potential COVID-19 vaccine and increased deal activity.
Australia’s S&P / ASX 200 futures were down 0.22 percent and Hong Kong’s Hang Seng Index futures broke 0.08 percent, while Japan’s Nikkei 225 futures remained flat.
Overnight, US stocks rapidly ended as a sign of progress in developing the COVID-19 vaccine, and a surge of multibillion-dollar deals lifted investor optimism.
The Dow Jones gained 1.18 percent, the S&P 500 gained 1.27 percent and the Nasdaq Composite gained 1.87 percent.
According to the government data, in August, consumer inflation in the country reached 6.69 per cent in August, up from 6.73 per cent in the previous month and slightly better than economists’ estimates.
Oil prices, meanwhile, lowered on Tuesday as a weak outlook for global fuel demand, leading to fresh sales, but short-covering after this week’s meeting of OPEC and its partners, as OPEC + Known, limited losses.
Brent crude was down 3 cents, or 0.1 per cent, to $ 39.58 a barrel at 0102 GMT. US West Texas Intermediate (WTI) crude futures were down 2 cents, or 0.1 percent, to $ 37.24 a barrel.
The S&P BSE Sensex and NSE Nifty 50 index gained two days on Monday under selling pressure in banking, financial services, energy, telecom and metal stocks. The Sensex closed down 98 points or 0.25 percent at 38,757 and the Nifty 50 fell 24 points or 0.21 percent at 11,440.