Indian shares may open largely unchanged on Tuesday after three days of strong gains. Amid little positive triggers, investors now await cues from inflation and industrial output data for direction.
Recent worries over fiscal deficit may ease somewhat after Finance Minister Arun Jaitley said the country is following the roadmap of fiscal consolidation.
Meanwhile, according to a United Nations (UN) report, India's GDP is likely to rise to 7.2 percent in 2018 and 7.4 percent in the following year on the back of strong private consumption, public investment and the ongoing structural reforms.
Firm global cues after the release of upbeat U.S. jobs data and progress in Brexit talks helped Indian markets finish higher for the third day running on Monday.
The rupee rose by 8 paise to end at a fresh one-week high of 64.37 per dollar, extending gains for the second straight session.
Asian stocks are trading mixed ahead of key central bank meetings this week and the dollar held steady near a recent two-week high versus a basket of major currencies, while Brent crude oil prices held near 2015 highs after the closure of a major North Sea pipeline for repair.
Overnight, U.S. stocks closed modestly higher as healthcare and energy companies rose, offsetting losses among banks and industrial stocks.
The Dow inched up 0.2 percent and the S&P 500 added 0.3 percent to reach fresh record closing highs while the tech-heavy Nasdaq Composite advanced half a percent.
European markets ended Monday's session on a mixed note as technology stocks continued their recent struggles, while bank stocks extended recent gains after the Basel III announcement last week.
The pan-European Stoxx Europe 600 index closed little changed with a negative bias. The German DAX and France's CAC 40 index both slid about 0.2 percent while the U.K. FTSE 100 advanced 0.8 percent.
by RTT Staff Writer
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