Indian shares seen opening lower on US rate hike concerns
Global Economy
Indian shares are expected to open lower on Tuesday, tracking a broader risk-averse sentiment globally over the impact of high interest rates on economic growth, while IT heavyweight TCS could offer cues to the market after strong results.
India's NSE stock futures, listed on the Singapore exchange SINc1, were down 0.21%, as of 0207 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.66%.
The NSE Nifty 50 index .NSEI closed 0.43% lower to 17,241 on Monday, and the S&P BSE Sensex .BSESN was down 0.34% to 57,991.11, after hitting a one-week low in the session.
Meanwhile, a Reuters poll found India's retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India's upper tolerance band for a ninth month.
The data is due after market hours on Wednesday.
Foreign institutional investors sold a net 21.39 billion Indian rupees ($259.60 million) worth of equities on Monday, as per provisional data available with the National Stock Exchange.
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