Sensex, Nifty May Follow Asian Peers Higher

(RTTNews) - Indian shares may open on a positive note Tuesday despite mixed global cues as investors await key U.S. consumer price inflation and producer price data this week for additional clues on the Fed's rate trajectory.

Benchmark indexes Sensex and Nifty fell around 0.8 percent and 0.7 percent, respectively on Monday after a SEBI warning over midcap-small-cap rally.

The rupee rose for a third straight session to settle at Rs 82.76 per dollar, marking the highest since September 4, 2023.

Foreign portfolio investors bought shares worth a net Rs. 4,212 crores on Monday, while domestic financial institutions purchased shares worth Rs 3,238 crore, data showed.

The statistics ministry will release retail inflation data for February and industrial output figures for January later in the day.

Asian markets were seeing modest gains this morning, though Japan's Nikkei extended losses amid expectations the Bank of Japan may raise interest rates next week.

The dollar and gold held steady while oil edged up slightly ahead of monthly reports from OPEC and the IEA due this week.

U.S. stocks ended lower for a second straight session overnight as Treasury yields edged up ahead of key inflation data release.

The Dow edged up 0.1 percent, while the S&P 500 slid 0.1 percent and the tech-heavy Nasdaq Composite gave up 0.4 percent.

European stocks fell for the first time in three days on Monday due to uncertainty about the outlook for interest rates. The pan European STOXX 600 declined 0.4 percent.

France's CAC 40 slipped 0.1 percent and the German DAX dipped 0.4 percent while the U.K.'s FTSE 100 inched up 0.1 percent.