RTRS: BSE Sensex to open higher on strong Asian cues
The BSE Sensex is expected to start higher on Tuesday, joining a rally across Asia bourses, a day after they posted their biggest one-day drop in almost three months.
If the main BSE index, which closed at 9,568.14 on Monday, climbs above 9,647.31 it will take it into positive territory for the quarter -- for the first time in five quarters.
Tuesday is also the close of India's financial year.
"Because of yesterday's deep correction, we could see some gains today. If the market does not fall below yesterday's lowest level, we could see it going up in the next few days," Vinod Bansal, director at Ficuswealth.com, said.
The 30-share index fell 4.8 percent on Monday, its biggest drop since Jan. 7, when it fell 7.3 percent on news of a fraud at Satyam Computer.
The benchmark, which had risen just over a fifth in the previous three weeks, is down 0.8 percent through Monday since the start of the year.
Asian markets were higher on Tuesday, with Japan's Nikkei up 1.7 percent by 0346 GMT, while MSCI's measure of other Asian markets rose 1.7 percent.
Nifty futures traded in Singapore were trading up 1.3 percent, pointing to a higher opening in India.