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SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could advance 58 points at the opening bell.
On the macro front, India's retail inflation in May eased to a 25-month low of 4.25%, data released by the National Statistical Office (NSO) on Monday showed. In April, India's retail inflation eased to an 18-month low of 4.70%, while in March, it stood at 5.66%.
Meanwhile, India's Index of Industrial Production (IIP) in April rose sharply to 4.2% from 1.1% in March mainly due to good performance by the manufacturing and mining sectors, according to official data released on Monday.
Global markets:
Overseas, Asian stocks are trading higher on Tuesday boosted by gains in US equity markets and expectations of a Federal Reserve interest rate pause following a Fed policy meeting this week.
US stocks advanced on Monday as traders looked ahead to the Fed's June meeting. The S&P 500 and the Nasdaq rallied on Monday to their highest closing levels since April 2022. The Federal Open Market Committee is widely expected to keep interest rates unchanged, in the 5%-5.25% range, as per reports.
Investors are closely monitoring U.S. Consumer Price Index (CPI) data, due to be released on Tuesday, and Producer Price Index (PPI) data, due out Wednesday, for a reading of how well the Fed's tightening cycle has managed to curb inflation.
Domestic markets:
Back home, domestic equity benchmarks nudged higher on Monday, breaking a two-day losing streak, thanks to a positive global market performance. The barometer index, the S&P BSE Sensex advanced 99.08 points or 0.16% to 62,724.71. The Nifty 50 index rose 38.10 points or 0.21% to 18,601.50.
Foreign portfolio investors (FPIs) sold shares worth Rs 626.62 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,793.85 crore in the Indian equity market on 12 June, provisional data showed.
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