Indian equities are set for a cautious-to-positive opening on Tuesday after the market remained shut on Monday for Ganesh Chaturthi. GIFT Nifty was indicating a gain of around 80 points, or 0.34%, above the 23,500 level. The Nifty 50 had closed at 23,398.10 on Friday, while the Sensex ended at 74,781.76.
However, the positive opening indication comes against several global headwinds. Brent crude remains close to $107 a barrel, US Treasury yields have crossed 5%, and the ongoing Middle East conflict continues to create uncertainty around energy supplies. Foreign institutional investors sold Rs.930.9 crore of Indian equities in the previous session, while domestic institutions bought Rs.1,968.17 crore.
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