For fresh cues, investors will continue to monitor the earnings of listed companies along with the latest pattern of foreign investments in Indian stocks.

Also, investors would eye US monetary policy meeting scheduled for May 2-3.

In the US, the interest rate is currently at 4.75 to 5.00 per cent, which was near zero during the initial days of the pandemic. The rise in interest rates was necessitated due to high inflation in the US.

Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline and vice versa.