FX.co ★ Indian Shares Seen Opening Slightly Higher

Indian equities are poised for an upbeat opening on Tuesday, influenced by Wall Street's overnight gains driven by bargain hunters capitalizing on last week's sharp declines. The modest rise in Gift Nifty futures further signals a likely positive initiation for the Indian markets.

Waaree Energies Limited announced a net profit of ₹375.65 crore for the quarter ending September 30, 2024, marking an increase from ₹320.12 crore in the same quarter the previous year.

Adani Green Energy is anticipated to draw attention amid reports of the company's plans to issue a $600 million bond in the coming days.

Bajaj Finance Limited revealed a 21% growth in its Fixed Deposit portfolio, reaching ₹66,131 crore as of September 30, 2024.

Ashoka Buildcon Ltd disclosed in a stock exchange filing on Monday that it has emerged as the lowest bidder for projects valued at ₹2,791 crore, as tendered by the National Highways Authority of India.

On Monday, Indian equities concluded with slight losses due to concerns over decelerating earnings growth and a depreciating rupee amidst ongoing foreign fund withdrawals.

Heightened geopolitical tensions also pressured markets as hostilities between Russia and Ukraine escalated over the weekend, following the outgoing U.S. President Joe Biden's approval for Ukraine's use of U.S.-supplied long-range missiles for attacks inside Russia.

The benchmark S&P BSE Sensex fell by 241.30 points, or 0.31%, closing at 77,339.01, with IT, energy, and healthcare stocks shouldering the heaviest losses.

The NSE Nifty index closed at 23,453.80, declining by 78.90 points or 0.34% from its preceding session.

Across the Asia-Pacific region, stock exchanges are viewing gains on Tuesday, buoyed by Wall Street's performance overnight. Markets in Australia, South Korea, Shanghai, Hong Kong, and South Korea are all demonstrating moderate increases.

On Wall Street, the major indices experienced mixed results. The Nasdaq rose by 111.69 points or 0.6%, the S&P 500 increased by 23.00 points or 0.4%, while the Dow saw a slight decline of 55.39 points or 0.1%.