After trading in a tight band on Monday, Indian stocks are expected to start slightly higher on Tuesday as investors look for new triggers. However, worries about interest rates are likely to keep investors on edge.
As of 7:35 a.m. IST, India’s NSE stock futures on the Singapore Exchange were up 0.16% to 18,734.
Asia was nervous on Tuesday because of worries about interest rates, China’s slow economic rebound, and political changes in Russia. This made stocks sway in early trade.
On Monday, the blue-chip Nifty 50 (.NSEI) didn’t move much until the end of trading hours, when car and pharmaceutical stocks helped it out. On Monday, the S&P BSE Sensex (.BSESN) ended flat, while the midcap index (.NIFMDCP100), which is made up of smaller companies, saw sharp gains thanks to local buying.
According to preliminary NSE data, foreign institutional buyers sold a net of $49.9 million worth of Indian stocks on Monday, while domestic investors bought 2.5 billion rupees worth of shares.
