India's benchmark indexes to open higher on easing trade tensions, FPI inflows
- India's benchmark indexes are poised to open higher on Tuesday, supported by easing trade tensions between the U.S. and its trading partners and sustained foreign inflows that have bolstered investor sentiment.
Gift Nifty futures were trading at 24,484.5 as of 7:16 a.m. IST, indicating the Nifty 50 will open higher than Monday's close of 24,328.5.
Other Asian markets also opened higher, with the MSCI Asia ex-Japan index gaining 0.25%. Gold prices fell on Tuesday as easing trade tensions dented the metal's safe haven appeal.
U.S. Treasury Secretary Scott Bessent said on Monday that many top trading partners made "very good" tariff proposals. One of the first deals to be signed would likely be with India, he said, adding that a deal could be sealed this week or the next.
Meanwhile, U.S. Commerce Secretary Howard Lutnick said in a statement from the White House that U.S. President Donald Trump will move to reduce the impact of his auto tariffs, signalling easing trade war concerns.
India's Nifty 50 rose 1.2% on Monday, helped by better-than-expected earnings from heavyweight Reliance Industries and sustained foreign inflows.
Foreign portfolio investors continued to buy Indian shares for the ninth straight session on Monday, provisional data from the NSE showed. This is the longest daily FPI buying streak since early July 2023.
Among individual stocks, the focus will be on private lender IndusInd Bank and cement maker Ultratech Cement.
IndusInd Bank announced the resignation of deputy CEO Arun Khurana, weeks after the bank disclosed accounting lapses in its derivatives portfolio. Ultratech Cement reported March quarter profit below market expectations and said soaring summer temperatures have hit construction activity and cement demand in India.
Auto maker TVS Motor Company could rise after it reported a better-than-expected fourth-quarter profit on Monday, led by steady demand for its two-wheelers and continued growth in exports.
