Sensex, Nifty likely to open positive; Vodafone Idea, Axis Bank, Dr. Reddy's, Strides Pharma in focus

Indian shares are likely to open higher on Tuesday taking cues from the Asian market which remains upbeat on the expectation of the US interest rate cut this week.

Also drawing some attention were US-China trade negotiations due to begin in Shanghai on Tuesday, although expectations for progress during the two-day meeting are low with the markets hoping the two sides can at least detail commitments for "goodwill" gestures.

On Monday, Indian benchmark indices ended lower clouded by weak corporate results, while bond yields fell after the finance minister said the government did not intend to review its overseas borrowing plan.

The Sensex settled 196 points lower, or 0.52 percent, to close Monday's trade at 37,686. The Nifty50 also added 95 points, or 0.84 percent, to settle at 11,189.

At 7.25 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, traded 23 points, or 0.21 percent, higher at 11,234, indicating a positive start for the Sensex and the Nifty 50.

Stocks to watch: Vodafone Idea, Axis Bank, Dr. Reddy's, Strides Pharma in focus.