Analysts expect the Reserve Bank of India to lift the repo rate by 25 basis points, its first increase in nearly four years, while equity indices endure an eight‑week losing streak.
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India's equity indices fell for the eighth straight week, the longest streak in a quarter‑century, while the rupee slipped 50 paise to 96.32 per dollar.
India's Sensex and Nifty 50 fell for a seventh straight week, driven by higher crude prices, rising global yields and continued foreign fund outflows.
Indian equity indices are expected to open higher on Tuesday, driven by a fourth straight day of gains and a four‑session decline in crude oil prices.
Analysts cite falling oil prices, new U.S. sanctions on Russia, Iran‑related shipping disruptions and mixed foreign investor flows as the main forces that will steer the Nifty on Monday.
GIFT Nifty slipped 33 points to 24,018, pointing to a negative opening on Dalal Street as global markets reacted to rising oil prices and heightened geopolitical tension.