Flat opening on the cards

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 5 points at the opening bell.

Consumer Price Index-based inflation (CPI) for the month of May came in at 6.30%, higher than April's 4.23%. The higher inflation month-on-month was primarily on the back of a substantial hardening of food prices.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday after their U.S. peers closed at a record on Monday ahead of a key Federal Reserve meeting.

The Nasdaq Composite jumped to a record high on Monday as investors rotated back into growth-oriented stocks ahead of a key Federal Reserve meeting. Overnight on Wall Street, the Nasdaq Composite gained 0.74% to an all-time closing high of 14,174.14. The S&P 500 also cruised to another record close, rising 0.18% to 4,255.15. The Dow Jones Industrial Average lagged, dipping 85.85 points to 34,393.75.

The Fed's two-day policy meeting will likely dominate investor behavior this week. Although the central bank is not expected to take any action, its forecasts for interest rates, inflation and the economy could move the markets. Fed Chairman Jerome Powell will speak to the press after the central bank issues its statement Wednesday.

Domestic markets:

Back home, the domestic equity benchmarks ended a roller-coaster session with minor gains on Monday. The barometer index, the S&P BSE Sensex, added 76.77 points or 0.15% to 52,551.53. The Nifty 50 index advanced 12.50 points or 0.08% to 15,811.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 503.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 544.26 crore in the Indian equity market on 14 June, provisional data showed.

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