Asia-Pacific markets were trading higher on Tuesday, tracking overnight gains on Wall Street. The Nikkei 225 was trading 0.27% higher, and the S&P ASX 200 was 0.56% higher as of 06:48 a.m.

The July futures contract of the GIFT Nifty was flat at 24,548 as of 06:57 a.m.

US stocks bounced back following their worst week since April, shifting focus away from Joe Biden's decision to end his reelection campaign and turning attention to the kickoff of the tech earnings season.

Mega-cap stocks led the rally, propelling the S&P 500 and Nasdaq 100 to rise 0.68% and 1.29%, respectively. The Dow Jones Industrial Average was trading 0.23% higher.

Brent crude fell 0.12% to trade at $82.30 per barrel, while the gold spot advanced 0.25% to $2,402.52 an ounce.

The Indian benchmark equity indices closed lower for the second consecutive session on Monday as investors look forward to the Union Budget 2024 - 25 and more corporate earnings.

The NSE Nifty 50 ended 21.65 points or 0.09%, down at 24,509.25, while the S&P BSE Sensex closed 102.57 points or 0.13%, down at 80,502.08. Intraday, both indices rose over 0.2%.

Overseas investors remained net buyers of Indian equities for the sixth consecutive session on Monday. Foreign portfolio investors mopped up stocks worth Rs 3,444 crore, and domestic institutional investors stayed net sellers for the fifth session and sold equities worth Rs 1,652 crore, according to provisional data from the National Stock Exchange.

The Indian rupee closed at a record low of 83.665 against the US dollar.