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Indian shares will likely be little changed on Tuesday, continuing to trade in a narrow range as investors await fresh triggers with the benchmark indexes hovering around all-time highs.

The GIFT Nifty was trading at 23,578 as of 07:55 a.m. IST, indicating that the Nifty 50 will open slightly above its close of 23,537.85 on Monday.

The Nifty closed around 0.2% higher on Monday, sticking to the roughly 450-point trading range it has remained in over the past 10 sessions. It hit a record high of 23,667.10 last Friday.

While key indices struggle for trending action, traders seem to be waiting for a trigger, said Rajesh Bhosale, an analyst with Angel One.

Indian benchmarks have surged nearly 11% from the dip seen on June 4, in a post-election rally, with many analysts noting that valuations have become expensive.

"We see little near-term upside in the Nifty from the current levels because of elevated valuations and the lack of positive catalysts," Emkay Global Financial Services said in a note.

"This is, however, a pause in a multi-year bull run, and we see very little chance of a meaningful correction."

In global markets, Asian stocks were subdued, while the Nasdaq tumbled over 1% overnight on the Wall Street. [MKTS/GLOB]

Foreign investors continued to be sellers for a second straight day on Monday, selling 6.54 billion rupees ($78.3 million) worth of shares on a net basis, while domestic investors sold stocks worth a net 8.20 billion rupees, per provisional exchange data.

STOCKS TO WATCH:

Bandhan Bank: The Reserve Bank of India has appointed a director to the lender's board.

Amara Raja Energy and Mobility: The company signed a licensing agreement with a unit of China-based Gotion High Tech to produce lithium-ion batteries in India. ($1 = 83.4870 Indian rupees)