Pre-mkt: Shares seen opening higher; FOMC eyed

Indian stocks are likely to open higher tracking firm global cues.

Stocks on Wall Street rose on Monday on expectations that the US Fed may continue its stimulus measures to boost the economy.  The Dow Jones, S&P 500 and Nasdaq ended up over 0.7 per cent each.

Asian markets were trading with marginal gains on Tuesday as investors remained cautious ahead of the US Federal Open Market Commitee meeting that begins today. The Nikkei was up 0.3 per cent and Straits Times was up 0.5 per cent.

At 8:00 hrs Indian Standard Time the SGX Nifty was down 2 points at 5,836.

According to technical experts, key momentum oscillators are still in favour of the bears hence any upside from current levels are likely to be limited. On the downside, the index has good support around 5,740. On Tuesday, the NSE index is likely to seek support around 5,815-5,800, while face resistance around 5,880-5,900.

Polaris Financial Technology will develop the online mutual fund platform - MF Utility - to be implemented by the Association of Mutual Funds in India.

GMR Infrastructure is understood to have got a reprieve from the Anti-Corruption Commission of Maldives indicating that there was no corruption involved in the leasing of the Ibrahim Nasir International Airport to GMR by the previous administration.

The experts appraisal committee (EAC) of ministry of environment and forests (MoEF) has deferred Tata Power's proposal seeking environment clearance for conversion of its 500 MW unit to coal-based from the oil-fired one at its Trombay plant situated in north east Mumbai.

Jet Airways has entered into code share pacts with Air France-KLM enabling the European airlines to sell tickets on Jet's domestic routes.