Indian shares are seen opening on a cautious note Tuesday as investors react to disappointing industrial output and retail inflation data.
India's industrial production continued to fall in August but the pace decline slowed due to the gradual relaxation of the coronavirus containment measures, data from the National Statistical Office showed.
Industrial output dropped 8 percent on a yearly basis. Output was forecast to decrease 7.5 percent after easing 10.8 percent in July.
India's consumer price inflation rose 7.34 percent year-on-year in September following a 6.69 percent increase in August, preliminary data from the statistics ministry revealed. Economists had forecast 6.88 percent inflation.
Benchmark indexes ended slightly higher on Monday to extend gains for the eighth consecutive session, while the rupee settled 12 paise lower at 73.28 against the U.S. dollar, logging its first loss in four sessions.
Asian markets are trading mixed this morning after Johnson & Johnson said it had temporarily halted its Covid-19 vaccine trial due to an unexplained illness in a participant.
Gold inched lower while the dollar rose slightly despite softer Treasury yields. Oil prices held steady on fears of oversupply and amid concerns about resurgent Covid-19 infections in the U.S. Midwest and Europe.
U.S. stocks rose sharply overnight as investors became more confident of a larger stimulus deal down the road.
The Dow Jones Industrial Average gained 0.9 percent and the S&P 500 rallied 1.6 percent, while the tech-heavy Nasdaq Composite jumped as much as 2.6 percent ahead of Apple's new iPhone launch event.
European markets rose on Monday amid optimism about a fiscal stimulus in the U.S. The pan European Stoxx 600 moved up 0.7 percent.
The German DAX and France's CAC 40 index both rose about 0.7 percent, while the U.K.'s FTSE 100 slid 0.3 percent.
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