The Indian equity benchmarks are set to open higher as indicated by the Nifty Futures traded on the Singapore Exchange amid mixed cues from Asian markets, The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 3 points to 18,000. Meanwhile, Asian shares were mixed on Tuesday and currencies held tight ranges as nervous investors awaited several key central bank meetings that could set the tone for risk appetite heading into next year.
MSCI's gauge of Asia-Pacific shares outside Japan recovered early losses to be 0.8 per cent higher at 0128 GMT, with Japan's Nikkei edging 0.2 per cent lower and Australia's S&P/ASX 200 down 0.6 per cent.
The immediate focus was on the Reserve Bank of Australia's (RBA) meeting on Tuesday, with the Federal Reserve and Bank of England due to hold their policy decisions later in the week.
Overnight, global equity markets rose on Monday as investors await clarity from the U.S. Federal Reserve as to whether it will might raise interest rates sooner than they anticipated several months ago, before a sustained bout of inflation.
Wall Street advanced to record highs as gains for energy shares and Tesla were countered by declines in the tech sector only to stumble slightly lower, closing the session mixed. European stocks also hit record highs following upbeat earnings reports and a surge in banking shares.
Back home, pace of selling by foreign investors slowed on Monday as foreign institutional investors sold shares worth Rs 202 crore on Monday while domestic institutional investors bought shares worth Rs 116 crore.
Tata Motors will be in focus after its loss widened to Rs 4,442 crore compared with loss of Rs 314 crore as semiconductor shortages and high commodity prices dented sales and production for the carmaker.
