The Nifty 50 index is seen opening above its important psychological level of 18,300 as indicated by the Nifty futures on Singapore Exchange. Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 0.12 per cent or 22 points to 18,328 amid positive global cues. Asian shares were trading higher with Japan's Nikkei up 0.85 per cent, Hong Kong's Hang Seng up 0.43 per cent and Straits Times rising 0.23 per cent.
Asia's share markets were mostly higher on Tuesday even as global investor attention remains fixed on the prospect of U.S interest rate hikes in the next few months, after two years of unprecedented pandemic-induced policy easing, news agency Reuters reported.
The U.S. Federal Reserve is due to meet January 25-26 and while it is not expected to shift rates then, a growing number of investors think March will be the start of a tightening cycle.
Back home, foreign institutional investors sold shares worth Rs 855 crore and domestic institutional investors sold shares worth Rs 115 crore on Monday.
Bajaj Finance and L&T Technology Services will be in focus ahead of their December quarter earnings announcements later in the day.
Tech Mahindra will be in focus after the company approved buying 25 per cent stake each in SWIFT Technologies and Surance and the board also approved buying 25 per cent stake in Com Tech for 310 million euros.