Indian Shares Likely To Open On Positive Note

(RTTNews) - Indian shares are likely to open higher Tuesday morning, tracking positive cues from Asian markets and the overnight gains on Wall Street.

Short-covering and bargain hunting after four consecutive days of losses may also push up prices of some frontline stocks.

The overall mood is likely to be a bit cautious with investors looking ahead of the Reserve Bank of India's three-day monetary policy meeting that gets underway today.

The central bank's Monetary Policy Committee is widely expected to hold policy rates unchanged amid uncertainty over inflation outlook.

Quarterly earnings news from companies will also set the trend for stocks.

Exide Industries reported net loss of Rs 13.56 crore in the first quarter, compared with net profit of Rs 161.58 crore a year ago.

KEC International will be in focus after the company said it has bagged orders worth nearly Rs 1,200 crore across its various businesses.

Technology major Infosys announced on Monday that the National Bank of Bahrain has chose the IT bellwether's Finacle to digitally transform the lender's transaction banking business.

The Indian market ended sharply lower on Monday, with stocks plunging amid worries about continued surge in coronavirus cases in the country, and in several states across America.

The benchmark S&P BSE Sensex slumped 1.77 percent to 36,939.60, sliding for a fourth consecutive session. The broader NSE Nifty index ended down 1.57 percent at 10,899.85.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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