Sensex, Nifty Poised For Steady Start
(RTTNews) - Indian shares look set to open a tad higher on Tuesday, though tech stocks may come under selling pressure on worries over inflation and 'higher for longer' interest rates.
Volatility is not ruled out ahead of a market holiday on Wednesday for Bakri Id and the upcoming expiry of monthly derivative contracts on Thursday.
Benchmark indexes Sensex and Nifty ended a choppy session narrowly mixed on Monday while the rupee rose by paise to close at 81.96 against the dollar.
Asian markets traded mixed this morning after Yevgeny Prigozhin, Wagner group chief, said he had never intended to overthrow the Russian government and that his attempted coup against Russia was nothing more than a protest at the ineffectual conduct of the war in Ukraine.
The U.S. dollar held its ground against major currencies while oil and gold were seeing modest gains.
U.S. stocks closed lower on Monday as growth worries lingered and a short-lived mutiny in Russia by the Wagner paramilitary group revived concerns over nuclear arsenal security.
The Dow ended little changed with a negative bias and the S&P 500 shed half a percent while the tech-heavy Nasdaq Composite lost 1.2 percent as the U.S. yield curve inversion accelerated to near-historic levels.
European stocks closed slightly lower on Monday as weak German business sentiment data and political uncertainty in Russia rendered the mood cautious.
The pan European STOXX 600 slipped 0.1 percent. The German DAX and the U.K.'s FTSE 100 both eased around 0.1 percent while France's CAC 40 gained 0.3 percent.
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