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On the result front, around 78 companies such as Asian Paints, Bank of Baroda, and Berger Paints are expected to report March quarter earnings on Tuesday.
Analysts are expecting weaker earnings for Bank of Baroda which has been impacted by the Covid-19 crises and post its merger with Dena and Vijaya Bank. The bank’s asset quality would be closely observed due to the merging banks' exposure to the telecom sector. Rupee opens higher at 75.86/$ against Monday's close of 76.02 against the US dollar
Meanwhile, US stocks ended higher propelled by strong gains in technology stocks.
On Monday, the Dow Jones Industrial Average rose 153.50 points, or 0.59 per cent, to 26,024.96. The S&P 500 increased 20.12 points, or 0.65 per cent, to 3,117.86. The Nasdaq Composite Index soared 110.35 points, or 1.11 per cent, to 10,056.47, Xinhua news agency reported.
Apple shares advanced 2.62 per cent, among the best performers in the 30-stock index.
The US tech firm on Monday has announced several major updates and also gave a sneak peek into its latest version of iPhone operating system, iOS 14, during its virtual Worldwide Developers Conference.
The coronavirus cases continued to spike across the United States, raising doubts about a swift economic recovery from the pandemic.
More than 2.3 million confirmed COVID-19 cases have been reported in the United States, with over 120,000 deaths, as of Monday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.
Watch: Virtual meeting of Foreign Ministers of India, China & Russia today
(With inputs from IANS)