The Indian market may edge higher on Tuesday, extending yesterday's modest rebound, with a drop in crude prices for the third straight session likely to offer support. Also, foreign institutional investors ( FIIs) are once again looking at the fundamentals of the Indian growth story and invested over Rs.2,100 crore in the first three trading sessions of this month, data released by market regulator SEBI shows.
Meanwhile, India's net direct tax collection fell by 48 percent during April-May of the current fiscal year owing to high income tax refunds amounting to more than Rs 37,000 crore during the period, a press note from the Central Board of Direct Taxes revealed.
Crude futures for July delivery dropped as much as 43 cents to $98.58 a barrel in Asian trading Tuesday after falling to the lowest level in two weeks overnight on speculation that OPEC may raise production limits.
Elsewhere, most Asian stock markets are edging lower this morning as oil and copper futures fell on concerns about the global economic outlook.
On Wall Street, stocks drifted lower on Monday amid concerns about the outlook for the economy on the back of recent disappointing data. The Dow dropped half a percent, while the Nasdaq and the S&P 500 lost about 1.1 percent each.
Back home, the benchmark indexes Sensex and the Nifty erased early losses to end about 0.3 percent higher on Monday, helped by some fag-end buying in IT, healthcare, capital goods and banking stocks.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.