(fxcue news) - Indian shares are set for a muted open Tuesday despite firm cues from overseas markets and a sharp fall in oil prices in the U.S. trading session overnight. FMCG stocks could be in focus after Britannia Industries reported a 9 percent fall in Q2 consolidated net profit. Earnings from NMDC, Shree Cement, Hindustan Copper, Bank of India, Hindalco and ONGC will also remain on investors' radar. Benchmark indexes Sensex and Nifty fluctuated before ending narrowly mixed on Monday. The rupee settled at 84.38 against the dollar after falling to a new record low of 84.39 earlier in the day amid FII selloff. Asian markets traded mixed this morning as investors seek clarity on U.S. President-elect Donald Trump's policy proposals and await key U.S. inflation reading this week for directional cues. The U.S. dollar held close to a four-month peak versus major peers while oil held the biggest drop in two weeks on China demand concerns. Gold was little changed after falling more than 2 percent on Monday, weighed down by the dollar's continued rise. U.S. stocks extended last week's rally overnight amid optimism on proposed tax cuts and deregulation during Trump's second term. The Dow and the S&P 500 rose 0.7 percent and 0.1 percent, respectively to reach new record highs while the tech-heavy Nasdaq Composite ended little changed. European stocks closed on a firm note Monday ahead of a busy week of top-tier economic data. The pan European STOXX 600 climbed 1.1 percent, logging its biggest single-day gain in six weeks as defense stocks surged on expectations of increased military spending in the U.S. and other countries under a Trump U.S. presidency. The German DAX and France's CAC 40 both rallied around 1.2 percent while the U.K.'s FTSE 100 gained 0.7 percent.