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However, recent Fed speakers have all pushed back on expectations of a pivot, with New York Fed President John Williams on Monday saying the central bank needs to press forward with rate rises and St. Louis Fed President James Bullard saying there is still "a ways to go" for policy tightening.

In terms of total credit cards, HDFC Bank continued to remain the market leader with 16.5 million credit cards, followed by SBI Cards at 15.1 million. ICICI Bank, at 13.5 million, and Axis Bank, at more than 9 million, are other major players in this segment.

The Piramal-Cosmea proposal involves Piramal offering to acquire only Reliance General Insurance Co, a wholly-owned subsidiary of Reliance Capital, for ₹3,750 crore and Cosmea making a ₹1,481-crore bid for Reliance Capital and its other units.

Powell is due to speak at a Brookings Institution event on Wednesday about the outlook for the U.S. economy and the labor market. Investors will be looking for clues about when the Fed will slow the pace of its aggressive interest rate hikes.

Nifty futures on Singapore Exchange traded 2 points or 0.01% higher at 18,760.50 around 6.55 am, signalling a flat start for Dalal Street on Wednesday.

Shares of Chandra Prabhu International (Rs 10 to Rs 2) will turn ex-split. A meeting of the board of directors of Indo Cotspin is scheduled to consider and approve the subdivision of the equity shares.

CLSA has upgraded its rating on Paytm to ‘buy’ from ‘sell’. “While our interactions with several investors over the past four months suggest some discomfort or uncertainty on scaling up the lending business, we think that the stock warrants a look now,” the brokerage said.

BNP Paribas Arbitrage offloaded over 18,00,164 lakh shares at an average price of Rs 405 apiece of IT major Wipro for Rs 72.9 crore through an open market transaction.

The filing said that Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan have been appointed as directors on the board of RRPRH, and Prannoy Roy and Radhika Roy have resigned.

Uniparts India is a global manufacturer of engineered systems and solutions. It is one of the leading suppliers of systems and components for the off-highway market in agriculture and construction, forestry and mining and aftermarket sectors on account of its presence across over 25 countries.