India’s benchmark indexes are likely to open higher on Tuesday after closing at seven-month lows in the previous session, while IT company HCLTech will be in focus after reporting a smaller-than-expected quarterly revenue.

The GIFT Nifty futures were trading at 23,274 as of 7:55 a.m. IST, indicating that the blue-chip Nifty 50 will open above Monday’s close of 23,085.95.

The benchmarks Nifty 50 and BSE Sensex lost about 1.4 per cent each in the previous session and closed at seven-month lows after an unexpectedly strong US jobs report signalled fewer rate cuts amid persistent worries over slowing domestic earnings and yet another slump in the Indian rupee.

The rupee toppled to a fresh all-time low on Monday, posting its worst single-day decline in over two years.

Meanwhile, domestic retail inflation eased to a four-month low in December, data released after market hours on Monday showed, boosting hopes of the Reserve Bank of India cutting interest rates in February.

Among individual stocks, HCLTech will be in the spotlight after it narrowed its full-year revenue growth forecast and posted a smaller-than-expected December-quarter revenue due to underperformance in its software business.

Other Asian markets opened higher on Tuesday. They fell sharply in the previous session, prompted by the possibility that the Federal Reserve may pause its easing cycle after a strong US jobs report.

STOCKS TO WATCH

** Brokerage Angel One posts slowest profit growth since listing as tighter regulations weigh

** Cable network distributor Den Networks reports a drop in December-quarter profit

** Casino and gaming company Delta Corp posts rise in December-quarter profit

** Bharat Electronics wins orders worth 5.61 billion rupees ($64.8 million)

($1 = 86.5990 Indian rupees)