The Indian equity benchmarks are set to open on a flat note on Tuesday as indicated by the Nifty Futures traded on Singapore Exchange amid stable cues from other Asian markets. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 25 points to 17,239. Asian equities consolidated recent gains as investors' sentiment improved amid strong results by U.S. companies, helping stocks recover from the worst start to the year since 2016, while a resurgent euro paused ahead of U.S inflation data.
Markets are still alert for rate increases in both the euro zone and the United States after the European Central Bank last week was considered to have adopted a more hawkish tone.
Advertisement
Japan's Nikkei rose 0.4 per cent, Korean stocks went up 0.7 per cent and Taiwan gained 0.6 per cent. Hong Kong stocks figured among the losers, with the Hang Seng index falling 0.7 per cent, news agency Reuters reported.
Back home, foreign institutional investors sold shares worth Rs 1,157 crore and domestic institutional investors sold shares worth Rs 1,376 crore on Monday.
Adani Wilmar will make its stock market debut at 10:00 am today. The IPO was subscribed 17.37 times.
Bharti Airtel, IRCTC, Bata India, Jindal Steel, Escorts, Glenmark, Kolte-Patil Developers and Godrej Consumer Products will be in focus as they will report their December quarter earnings later in the day.
