Indian shares poised for muted start, TCS kicks off earnings season

Indian equities signal a softer open after the RBI's surprise 25 bp hike to 5.5% and a shift to "calibrated tightening", raising the risk of further rate increases and extending pressure on risk appetite and foreign flows. Brent crude above $101 adds to inflation concerns, reinforcing tighter-for-longer narratives across Asia as sovereign bond markets remain strained. Attention also turns to TCS as earnings season begins.