Sensex gains 200pts, Nifty50 above 18,000 in pre-open deals

 At 7:40 am, the SGX Nifty futures were quoting at 18,040, up around 80 points from the previous close

 Despite the increase in consumer prices in August, domestic benchmark Sensex and Nifty indices are eyeing a positive start on Tuesday amid supportive global cues. 

At 7:40 am, the SGX Nifty futures were quoting at 18,040, up around 80 points from the previous close. 

India's retail inflation inched up to 7 per cent in August from 6.71 per cent in July mainly due to higher food prices. Meanwhile, India's industrial production rose 2.4 per cent in July, against a growth of 11.5 per cent in July 2021. 

In global markets, US indices edged higher for the 4th session on Monday, while Asian markets were also firmly in green this morning. Later today, the CPI data in the US will be closely tracked in the run-up to the US Fed meeting on September 20-21. 

Among stocks, HDFC Life will be on the radar as Abrdn, formerly Standard Life, is likely to sell 2 per cent of its stake in the private sector insurer via block trades on Tuesday.

Besides, oil marketing companies may also see some action on reports that the govt plans to pay about 200 billion rupees ($2.5 billion) to the state-run fuel retailers to partly compensate them for losses and keep a check on cooking gas prices.

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