Indian Shares Look Headed For Another Positive Start

(RTTNews) - It's likely to be a firm start for Indian shares on Tuesday with investors set to track positive cues from Wall Street and Asian markets. A drop in oil prices is also likely to aid sentiment.

Ambuja Cements will be in focus following the company's board approving two separate Schemes of Amalgamation to merge ACC and Orient Cement with itself, creating a single consolidated 'One Cement Platform'.

Indian Hotels Company announced on Monday that the brand is making its debut in Egypt, by opening a Taj Hotel in Cairo.

KSH International Ltd. shares are set to make their debut on the bourses. The firm's IPO had a price band of Rs 365-Rs 384.

UK Paints (India), one of the promoters of Berger Paints, has informed that it will acquire a 14.48% stake in the paint major through an internal restructuring.

Indian shares closed on a firm note on Monday, gaining for a second straight session, as easing concerns about valuations of technology stocks and hopes of more monetary easing by the Federal Reserve following somewhat soft inflation data helped underpin sentiment.

The benchmark BSE Sensex settled with a gain of 638.12 points or 0.75% at 85,567/48, staying firm right through the day's trading session after a bright start. The National Stock Exchange's Nifty50 finished with a gain of 206.00 points or 0.79% at 26,172.40. Both the key index closed near the day's highs.

On Wall Street, stocks moved mostly higher during trading on Monday. The major averages all moved to the upside on the day following the mixed performance seen in the previous week.

The Dow rose 227.79 points or 0.5% to 48,362.68, the Nasdaq climbed 121.21 points or 0.5% to 23,428.83 and the S&P 500 advanced 43.99 points or 0.6% to 6,878.49.

Shares of Oracle (ORCL) surged by 3.3% after Wells Fargo reiterated its Overweight rating on the software giant's stock. AI darling and market leader Nvidia (NVDA) also saw further upside on reports the company has told Chinese clients it aims to start shipping its second-most powerful AI chips to China before the Lunar New Year holiday in mid-February.