BENGALURU (Reuters) - Indian shares are poised to open higher on Tuesday, taking cues from strength in Asian peers and overnight gains on Wall Street, as risk sentiment improved on the back of robust corporate earnings updates and Britain's reversal of a fiscal policy.
India's NSE stock futures, listed on the Singapore exchange, were up 0.78%, as of 0210 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.43%.
The NSE Nifty 50 index rose 0.73% to end at 17,311.80 on Monday, and the S&P BSE Sensex advanced 0.85% to close at 58,410.98.
Both indexes registered their second straight session of gains.
Foreign institutional investors sold a net of 3.72 billion Indian rupees ($45.3 million) worth of equities on Monday, while domestic investors bought 15.82 billion rupees worth of shares, as per provisional data available with the National Stock Exchange.
Stocks to watch:
** Oil and Natural Gas Corp plans to take a stake in the new Russian entity that will manage the Sakhalin 1 project in the far east as it seeks to retain a 20% share in the asset, three sources familiar with the matter told Reuters.
** Motilal Oswal Financial Services Ltd to consider raising funds by issuing non-convertible debentures up to 20 billion rupees on private placement basis.
** Tata Metaliks Ltd posted September-quarter profit of 142.9 million rupees, down 73.9% from a year ago.
** Jindal Drilling and Industries Ltd reported September-quarter consolidated profit of 317.4 million rupees, up from 35.9 million rupees a year ago.
** Star Housing Finance Ltd said the company's board approved the sub-division of shares in ratio of 1:1.
** Tata Coffee Ltd reported September-quarter consolidated net profit of 1.42 billion rupees, a surge from 340.4 million rupees a year ago.