Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares are seen opening flat to higher on Tuesday despite mixed global cues, elevated geopolitical tensions and lingering uncertainty over the timing and pace of Fed rate cuts.

Indian markets were closed Monday on account of Lok Sabha polls in Mumbai.

Market experts anticipate continued volatility in the near term due to FII selling amid lingering uncertainty surrounding election results.

FIIs have sold shares worth a net Rs 10,650 crore in the cash segment during the week ended May 18, taking the total net selling for the current month to Rs 33,625 crore.

Benchmark indexes Sensex and Nifty ended the special trading session on Saturday with minor gains.

In economic releases, HSBC Manufacturing and Services PMI Flash numbers for May will be released on May 23 while foreign exchange reserve data for the week ended May 17 will be released on May 24.

Asian markets paused for breath this morning after seven days of gains. Gold was little changed after surging to a record high the previous day.

The oil market is showing signs of weakness despite an uptick in geopolitical tensions ahead of an OPEC+ meeting on supply.

U.S. stocks ended mixed overnight as Treasury yields climbed on hawkish comments from Federal Reserve officials.

The tech-heavy Nasdaq Composite climbed 0.7 percent to close at a record high ahead of Nvidia's closely watched earnings report. The S&P 500 finished marginally higher while the Dow slipped half a percent after closing above 40,000 Friday.

European stocks closed higher on Monday as commodity prices surged to record levels amid elevated geopolitical tensions and optimism over Chinese economic recovery.

The pan European STOXX 600 gained 0.2 percent. The German DAX and France's CAC 40 both edged up by 0.4 percent while the U.K.'s FTSE 100 ended flat with a positive bias.