Indian shares look set to open flat to higher on Tuesday after Tata Steel swung to a profit in the June quarter and the government said the number of Income Tax Returns (ITRs) filed for 2016-17 year grew by 25 percent to 2.82 crore as a result of demonetization and Operation Clean Money effect. That said, sluggish global cues may weigh on markets as the session progresses.
Benchmark indexes Sensex and the Nifty ended a range-bound session marginally lower on Monday while the rupee tumbled 22 paise to close at 63.80 per dollar after a four-day rally.
Asian stocks are broadly lower and the offshore yuan spiked as Chinese exports and imports figures missed expectations.
The dollar edged lower against a basket of currencies and oil held near $49 a barrel after reports of a rebound in production from Libya's largest oil field, while gold prices held steady to hover around two-week lows.
U.S. stocks closed slightly higher overnight as investors remained focused on the latest earnings and deal news. While technology companies led the surge, energy companies fell the most along with the price of crude oil.
The Dow edged up 0.1 percent to close at a record high for the ninth consecutive session, while the S&P 500 rose 0.2 percent and the Nasdaq Composite added half a percent.
European markets ended mixed on Monday after downbeat German data and mixed earnings updates. The pan-European Stoxx Europe 600 index slid 0.1 percent and the German DAX eased 0.3 percent, while France's CAC 40 index inched up 0.1 percent and the U.K.'s FTSE 100 gained 0.3 percent.
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