The BSE Sensex and Nifty are likely to open on a flat note on Tuesday tracking other Asian indices which traded mixed.
The Nifty future trading on Singapore Stock Exchange was down 8 points or 0.10 per cent as of 8 a.m. indicating a flat to negative start for Indian markets today.
But sentiment is likely to be positive as foreign investors continued to be net buyers of Indian equities and on Monday they bought cash shares worth Rs 2,043 crore. However, domestic investors sold shares worth Rs 2,494 crore on Monday.
However, traders are likely to maintain caution ahead of the expiry of derivative contracts of March series.
Defence related shares are likely to be in focus today after the government unveiled on Monday the Defence Procurement Procedure (DPP)-2016, with an aim to ensure transparency, fast track acquisition process in defence procurement.
Meanwhile, Asian shares struggled to find their footing on Tuesday after downbeat US economic data contributed to an uninspiring session on Wall Street and pressured the dollar.
Hong Kong's Hang Seng index was down 0.05 per cent, Japan's Nikkei fell 0.14 per cent, while Kospi was up 0.24 per cent. China's Shanghai Composite traded lower by 0.21 per cent as of 8 a.m.
Overnight US stocks ended flat after a choppy session as weaker-than-expected US economic data reduced concerns about potential interest rate hikes and a dip in oil prices pushed down energy shares.
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