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The market also will be reacting to the news on government cancelling Rs 12,000 crore bond auctions, lowering its market borrowing programme for the current financial year in its bid to contain the fiscal deficit at 5.3 per cent.
Overnight, the S&P 500 dipped in a late decline on Friday as Wal-Mart dropped following a report of a weak start to February sales, though the index just barely extended its streak of weekly gains to seven.
Equities were little changed for much of the session, with investors finding few reasons to make big bets following an extended rally on Wall Street, but stocks turned lower in afternoon action.
The Dow Jones industrial average was up 0.08 percent, at 13,985. The Standard & Poor's 500 Index was up 0.02 percent, at 1,522. The Nasdaq Composite Index was down 0.21 percent at 3,192.
In Asia, Japan's Nikkei share average edged downwards at Tuesday's open as investors awaited the appointment of a new Bank of Japan governor and eyed risks in the euro zone.The index lost 0.5 percent to 11,345, while the broader Topix dropped 0.4 percent to 959.
Hong Kong's Hang Seng shed 0.3% at 23,382. Singapore's Straits Times was up 0.1% at 3,288 and Taiwan's Taiwan Weighted added 0.5% at 7,943.
STOCKS TO WATCH
TCS may see a green tick in the opening trades as India's largest information technology services provider, is set to expand operations in Britain.
India’s oldest air conditioner maker, Blue Star, will exit the window AC market. The stock will be reacting to this news.
Kingfisher Airlines may see some upward movement as UB Group intends to support the airline through loans and investments, amounting to a total of up to Rs 1,500 crore.
Telecomm shares will be in spotlight as the Department of Telecommunications is planning to hold a third round of auction of unsold spectrum under the 1800 MHz band in 18 circles immediately after the March auction.
GMR Industries may see a red tick as SEBI imposed a penalty of Rs 1.50 lakh on GMR Holdings for alleged non-compliance with disclosure norms related to acquisition of shares of GMR Industries way back in 2000.
ABG Shipyard may edge higher as ABG International raised its holding in the company by picking an additional 2.45% stake for Rs 50 crore.
Trent may see some price action as the board has approved a proposal to buy private equity fund TVS Shriram Growth Fund's entire stake in Landmark Ltd, for Rs 84 crore.
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