Indian shares are expected to open slightly higher on Tuesday, as data showing annual retail inflation eased to a three-month low in October strengthened bets of smaller interest rate hikes from the country’s central bank.
India’s NSE stock futures listed on the Singapore exchange were up 0.29%, as of 0150 GMT. The MSCI’s broadest index of Asia-Pacific shares outside Japan rose about 0.8%.
On Monday, the NSE Nifty 50 index closed 0.11% lower at 18,329.15. The S&P BSE Sensex slipped 0.28% to 61,624.15.
India’s annual retail inflation eased to 6.77% last month, helped by a slower rise in food prices, data showed on Monday.
However, the reading came in above the 6.73% forecast by economists in a Reuters poll and above the central bank’s tolerance limit.
More than 1,000 corporations reported their quarterly results on Monday as the country’s month-long earnings season drew to a close. A bulk of them defied a global slowdown to report profit growth and also signal better times ahead.
Globally, investors will get another look at U.S. inflation when the producer price index data is released later in the day.
Foreign institutional investors bought net 10.89 billion rupees ($134.50 million) worth of equities on Monday, while domestic investors purchased 471.8 million rupees of shares, according to provisional data available with the National Stock Exchange.
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