Sensex, Nifty Seen Slightly Higher At Open

(RTTNews) - Indian shares look set to open slightly higher on Monday after six straight weeks of losses for key benchmark indexes Sensex and Nifty.

The Standing Committee on External Affairs, headed by Congress MP Shashi Tharoor, will be briefed today on the latest developments in India's foreign policy.

The External Affairs Ministry is expected to tell the Parliamentary Committee that the imposition of additional tariffs by Trump is a result of 'flawed assumptions' and that India remains 'committed to engaging constructively' through 'dialogue and mutual respect'.

Asian stocks were mostly higher this morning, with Japanese markets closed for a holiday. Focus remains on upcoming Chinese retail sales and industrial output data after consumer and producer price data at the weekend underscored the impact of sluggish domestic demand and persistent trade uncertainty on consumer and business sentiment.

A U.S. tariff deadline on China is due to expire on Tuesday amid expectations it will get extended again.

The dollar index was steady after slipping nearly half a percent last week. U.S. CPI data will be released on Tuesday, with analysts expecting the core inflation to rise at an annual pace of 3.0 percent, well above the Federal Reserve target of 2 percent. Crude oil prices traded lower ahead of U.S. President Trump's scheduled meeting with Russian President Vladimir V. Putin later in this week, with investors pinning hopes for a ceasefire in Ukraine that could result in more supply.

Gold declined as traders await more clarity on U.S. tariff policy on Swiss gold. U.S. stocks rose on Friday, adding to the week's strong performance, amid easing concerns about tariffs and the economic outlook.

President Trump warned U.S. courts against striking down his tariff policy and said the duties will have a "huge positive impact" on the market.

The tech-heavy Nasdaq Composite climbed 1 percent to reach a new record closing high for a second day after Apple committed to invest an additional $100 billion in U.S. manufacturing. The S&P 500 gained 0.8 percent and the Dow added half a percent.

European stocks ended mixed on Friday, with defense stocks underperforming following reports that U.S. and Russian officials are working on a deal to stop the war in Ukraine.

The pan European STOXX 600 edged up by 0.2 percent. The German DAX and the U.K.'s FTSE 100 both finished marginally lower while France's CAC 40 rose 0.4 percent.