Sensex, Nifty Seen Opening Up With Inflation Data And Earnings In Focus

Indian shares are seen opening slightly higher on Tuesday after data showed India's retail inflation eased marginally to an 11-month low of 4.83 percent on an annual basis in April from 4.85 percent in the previous month.

On the earnings front, Zomato posted its fourth straight quarterly net profit. Bharti Airtel, Apollo Tyres and PVR Inox will unveil their quarterly earnings results later today.

Benchmark indexes Sensex and Nifty ended modestly higher on Monday, after having fallen deep into the red earlier in the session due to uncertainty surrounding the general election results.

The rupee ended marginally lower at 83.53 to the dollar after a range-bound trading session.

Asian markets were narrowly mixed this morning as investors awaited the release of key U.S. inflation data for April as well as Fed Chair Jerome Powell's speech for additional clarity on the Fed's rate trajectory.

The U.S. producer price index (PPI) is due to be released on Tuesday and the consumer price index (CPI) on Wednesday.

The dollar held steady in Asian trading and gold edged up slightly while oil was little changed before the release of OPEC's market outlook.

U.S. stocks closed mixed overnight ahead of key inflation reports and Fed Chair Jerome Powell's speech scheduled for later in the week.

In economic news, a New York Federal Reserve survey found that consumers are bracing for a year of rising inflation and less income.

Federal Reserve Vice-chair Phillip Jefferson called for holding rates steady at current levels until inflation moderates back to the 2 percent target.

The Dow dipped 0.2 percent to snap an eight-day winning streak and the S&P 500 finished marginally lower while the tech-heavy Nasdaq Composite edged up 0.3 percent.

European stocks closed mostly lower on Monday after smashing records last week. The pan European STOXX 600 ended flat with a positive bias.

The German DAX and the U.K.'s FTSE 100 both slid around 0.2 percent while France's CAC 40 eased 0.1 percent.

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