Indian shares may open higher on Tuesday, mirroring firm global cues as traders bet a full-fledged trade war between the U.S. and its trading partners is unlikely.
Media reports about GST rules getting easier, the clearance of Idea-Vodafone merger deal and optimism about the upcoming earnings season may also offer some support.
IT major Tata Consultancy Services will unveil its earnings for the June quarter after market hours today, with most analysts expecting the company to continue its strong performance. The company is expected to post healthy growth across all verticals, barring BFSI.
IndusInd Bank is also set to kick-off the earnings season for the banking sector today.
Benchmark indexes Sensex and the Nifty climbed 0.8 percent and 0.7 percent, respectively on Monday as investors put trade worries on the back burner and shifted focus to the quarterly earnings season.
The Indian rupee rose further by 15 paise to close at 68.72 per dollar ahead of industrial output and consumer price inflation data, due this week.
Asian stocks are broadly higher for the third day running and oil extended Monday's gains on escalating concerns about potential supply shortages, while the dollar index held steady in Asian trading.
U.S. stocks rose for a third straight session on Monday as economic optimism helped investors brush aside trade war worries. The Dow rallied 1.3 percent, while the S&P 500 and the tech-heavy Nasdaq Composite rose around 0.9 percent each.
European also closed firmly in positive territory on Monday amid hopes for a softer Brexit deal and after the release of positive data from Germany and France.
The pan-European Stoxx Europe 600 index advanced 0.6 percent. The German DAX and France's CAC 40 index both rose by 0.4 percent while the U.K.'s FTSE 100 added 0.9 percent.
by P2PNews Staff Writer