Indian shares opened to marginal gains on Tuesday, led by metal stocks, while investors waited for the U.S. Federal Reserve’s latest monetary policy meeting minutes due Wednesday to gauge the central bank’s future rate-hike path.
The Nifty 50 index inched up 0.16% at 17,874, while the S&P BSE Sensex gained 0.15% at 60,783.71 as of 09:20 a.m. IST.
The minutes would likely provide cues on the future rate-hike trajectory of the U.S. central bank. Recent data has heightened inflation concerns, sparking fears of a prolonged higher interest-rate regime in the world’s largest economy.
Asian markets declined, with the MSCI’s broadest index of Asia-Pacific shares outside Japan dropping 0.59%.
Beaten-down metal stocks were top sectoral gainer, rising 0.6%. The index is down over 10.2% so far in February.
Among individual stocks, BEML rose 2% after it signed memorandum of understanding with Delhi Metro Rail Corporation-led special purpose vehicle to supply metro rolling stocks for Bahrain metro rail project.
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