Sensex, Nifty Likely To Follow Global Peers Higher

(RTTNews) - Indian shares are seen opening mostly higher on Tuesday, tracking firm cues from global markets and in the wake of sustained inflows from foreign funds and domestic mutual fund investors amid optimism about India's growth story.

Infosys shares may come under selling pressure today after Chief Financial Officer Nilanjan Roy resigned from his post to pursue his personal aspirations outside of the company. He will continue to be with Infosys till March 31, 2024, as CFO.

Banks may also remain in focus after the Reserve Bank of India cautioned against unauthorized campaigns on loan waivers.

Benchmark indexes eked out marginal gains on Monday to hit fresh record highs while the rupee settled almost flat at 83.39 against the dollar.

Asian markets were mostly higher this morning ahead of U.S. CPI data due later in the day and Wednesday's FOMC decision.

While no change in interest rates is expected, investors look forward to Chair Jerome Powell's comments during his press conference as well as the central bank's dot plot and summary economic projections for directional cues.

The European Central Bank, Bank of England, Norges Bank and the Swiss National Bank all will announce their monetary policy decisions on Thursday.

The dollar traded weak and the yield on 10-year Treasury notes eased in Asian trade after lackluster three- and 10-year note auctions on Monday.

Gold edged up slightly after touching a three-week low in the previous session. Oil prices were seeing modest gains despite doubts over OPEC+ supply cuts.

U.S. stocks rose modestly overnight to close at new highs for the year amid continued optimism that the Fed is done with rate hikes and could potentially cut rates in the first half of next year.

The Dow and the S&P 500 both gained around 0.4 percent while he tech-heavy Nasdaq Composite edged up 0.2 percent.

European stocks closed mostly higher on Monday after struggling for direction during much of the session.

The pan European STOXX 600 advanced 0.3 percent. The German DAX inched up 0.2 percent and France's CAC 40 rose 0.3 percent while the U.K.'s FTSE 100 slipped 0.1 percent.