The BSE Sensex is set to climb early on Tuesday, taking cues from firm Asian markets, but investors will be cautious with the Reserve Bank of India (RBI) expected to raise rates in its policy at 0600 GMT.
The Reserve Bank of India said on Monday inflation may stay high for longer than anticipated earlier due to a rise in global commodities prices and domestic supply side pressures that have recently pushed up food prices. The RBI is widely expected to raise rates by at least 25 basis points.
Rate sensitive sectors such as banking, real estate and automobile stocks will be in focus.
The MSCI's measure of Asian markets other than Japan rose 0.6 percent by 0245 GMT, while Japan's Nikkei was trading 0.9 percent higher. The Nifty India stock futures in Singapore were up 0.4 percent, indicating a higher open in the domestic market.
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