Indian Shares Set To Follow Global Peers Higher

(RTTNews) - Indian shares are seen opening higher on Tuesday, tracking mostly positive cues from global markets as oil extended declines, helping ease concerns around inflation and input costs ahead of the Reserve Bank of India's monetary policy announcement due this week.

Benchmark indexes Sensex and Nifty jumped around 0.6 percent each on Monday to snap a four-day losing streak, with underlying sentiment boosted by diminished expectations for another Federal Reserve interest-rate hike in October and solid Q2 updates from banks.

The rupee settled 5 paise lower at 96.30 against the U.S. dollar as a result of elevated oil prices and persistent foreign fund outflows.

Foreign institutional investors (FIIs) offloaded shares worth Rs 4,699.14 crore on a net basis Monday, while domestic institutional investors (DIIs) net bought shares to the extent of Rs 5,181.62 crore, according to provisional exchange data.

Asian markets were broadly higher this morning after a tech-led rally on Wall Street overnight.

Gold prices were subdued at $4,130 an ounce as a firmer dollar and elevated Treasury yields offset support from reduced chances of an October rate hike by the Federal Reserve.

Brent crude futures held above $100 a barrel after falling in the previous session on reports suggesting that Middle East crude exports are recovering toward pre-war levels despite continued risks to shipping.

Saudi Aramco unexpectedly lowered its November official selling prices for crude oil bound for Asia by the widest margin in six years as oil flows from the Middle East recover after months of disruptions linked to the Iran war.

U.S. stocks closed higher overnight as investors reacted positively to a couple of buyout announcements and a dip in crude oil prices following the G7 announcement of a 100-million-barrel emergency stock release.

The 10-year yield climbed above 5.30 percent after data showed the U.S. services sector experienced a slowdown in growth during September, but cost pressures reached their highest level in over four years.

The tech-heavy Nasdaq Composite rallied 1.1 percent to notch a new record closing high while the S&P 500 surged 0.7 percent and the narrower Dow added 0.2 percent.

European stocks ended mixed on Monday amid concerns about France's fiscal outlook and political uncertainty ahead of the April 2027 elections.

The pan-European STOXX 600 advanced 0.4 percent. While France's CAC 40 shed 0.8 percent, the German DAX inched up marginally and the U.K.'s FTSE 100 rose 0.3 percent.