Sensex, Nifty Seen Flat To Lower On Weak China GDP Data

(RTTNews) - Indian shares may open on a subdued note Tuesday, tracking a muted trend in other Asian markets.

Earnings will be in focus, with Bank of India, Delta Corp, ICICI Lombard and ICICI Prudential among the prominent companies due to unveil their financial results later in the day.

Oil companies may also see increased activity after the government cut windfall tax on crude oil and exports of aviation turbine fuel and diesel.

Benchmark indexes Sensex and Nifty ended Monday's session slightly lower despite positive cues from global markets and soft WPI data.

The rupee fell by 21 paise to close at 81.59 against the dollar, tracking a rebound in the greenback overseas.

Asian markets were flat to slightly lower this morning as China reported its second-lowest annual economic growth in almost 50 years.

Japan's Nikkei index rose over 1 percent as the Bank of Japan kicked off its two-day policy meeting.

The dollar drifted off multi-month lows and oil prices slipped in Asian trading as recession fears dominated headlines out of the World Economic Forum's meeting. Gold traded lower but held above $1,900 per ounce.

U.S. markets were closed for the Martin Luther King Jr holiday overnight after the S&P 500 notched its largest weekly gain in two months on Friday.

European stocks ticked higher on Monday as investors assessed the outlook for inflation, economic and earnings growth outlook.

The pan European STOXX 600 gained half a percent as the World Economic Forum kicked off in Davos-Klosters, Switzerland.

The German DAX and France's CAC 40 index both rose around 0.3 percent, while the U.K.'s FTSE 100 inched up 0.2 percent.