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Indian shares are likely to open lower on Tuesday, tracking a dip in Asian peers on U.S. rate concerns, while persistent foreign selling also weighed on risk sentiment.

India's GIFT Nifty was down 0.20% at 19,574 points at 7:48 a.m. IST on the NSE International Exchange.

Wall Street equities were subdued after hawkish comments from U.S. Federal Reserve Chair Jerome Powell and Vice Chair for Supervision Michael Barr reignited worries of a prolonged high interest rate regime. Asian markets edged lower. [MKTS/GLOB]

The Indian equity market was closed on Monday due to a public holiday.

The Nifty 50 extended losses for the second week in a row on Friday. The slide in domestic equities coincides with the re-emergence of foreign portfolio investors' (FPI) selling.

FPIs snapped a six-month buying streak in September, offloading shares worth 147.68 billion rupees, according to National Securities and Depository Ltd data.

FPIs have also been net sellers in each of the last nine sessions, selling shares worth 16.86 billion rupees on Friday.

STOCKS TO WATCH:

** Cipla: Drugmaker divests 51% stake in Saba Investment, UAE, for a consideration of $6 million.

** Vedanta: Co announces split into six businesses in a move aimed at shoring up the group's financial performance.

** Hero MotoCorp: Two-wheeler maker to increase prices of select motorcycles and scooters by 1%.

** Rail Vikas Nigam: Co wins order worth 10.98 billion rupees for infrastructure development in Himachal Pradesh.