Indian Markets Closed For Guru Nanak Jayanti

(RTTNews) - Indian markets remain closed today for a public holiday in observance of Guru Nanak Jayanti.

Benchmark indexes Sensex and Nifty both fell around 0.6 percent in cautious trade on Tuesday due to sustained FII selling and lack of clarity around U.S.-India trade talks.

The rupee gained 11 paise to settle at 88.66 against the dollar, boosted by falling crude oil prices overseas.

As tensions linger over trade tariffs and oil imports from Russia, the White House said President Trump is positive and feels very strongly about India-U.S. relationship.

Asian markets followed Wall Street lower this morning, with benchmark indexes in Japan and South Korea plunging 4-5 percent on concerns over stretched valuations.

Safe-haven currencies like the Japanese yen and U.S. dollar rose as global tech stocks falter on fears that an artificial intelligence bubble is about to burst.

Gold rebounded after the biggest drop in more than a week, while oil extended overnight losses as industry data pointed to rising U.S. crude inventories.

U.S. stocks ended lower overnight, the dollar climbed to a four-month high against the euro and Treasuries rose after the CEOs of Goldman Sachs and Morgan Stanley cautioned investors about possible bubble in equities, adding to jitters over highly elevated valuations for many artificial intelligence companies.

The tech-heavy Nasdaq Composite tumbled 2 percent, the S&P 500 gave up 1.2 percent and the Dow declined half a percent.

European stocks ended firmly in the red on Tuesday as a recent tech-fueled rally faded and three top Federal Reserve officials pushed back against expectations of another interest rate cut in December.

The pan-European Stoxx 600 slid 0.3 percent. The German DAX shed 0.8 percent and France's CAC 40 dipped half a percent while the U.K.'s FTSE 100 edged up 0.1 percent.