Sensex, Nifty Seen Tad Higher At Open

(RTTNews) - Indian shares look set to open on a positive note on Monday despite mostly weak cues from global markets.

Automakers could be in focus as several auto manufacturers have slashed car prices after the GST rate cut.

On the trade front, investors may react to U.S. President Donald Trump's recent change in tone towards India following weeks of tensions and the talk of more secondary sanctions on countries buying Russian oil.

Asian stocks were mixed this morning as focus shifted to key U.S. inflation readings due this week.

Japanese markets climbed and the yen declined following the resignation of Prime Minister Shigeru Ishiba.

U.S. Treasury yields hit five-month lows, the dollar wobbled, and gold held near record highs as markets factored in chances of a jumbo rate cut by the Federal Reserve later this month.

Oil prices climbed in early Asian trade as OPEC+ agreed to further raise oil production from October and U.S. President Trump signaled readiness for fresh sanctions on Russia, aligning with calls from Treasury Secretary Scott Bessent.

Earlier, Bessent publicly pressed for stricter penalties on nations still importing Russian crude and argued that only a near-collapse of Russia's economy could push President Vladimir Putin toward peace talks.

U.S. stocks reached new intraday high before reversing course to end lower on Friday as weak jobs data sparked economic worries but raised hopes for imminent rate cuts.

Treasury yields sank as data showed the U.S. economy added just 22,000 jobs in August, far short of expectations for 75,000 and down from an upwardly revised 79,000 jobs in July.

The jobless rate rose to 4.3 percent from 4.2 percent while June revisions showed a negative print, marking the first labor market shrinkage since 2020.

The Dow shed half a percent, the S&P 500 slid 0.3 percent and the tech-heavy Nasdaq Composite finished marginally lower.

European stocks closed lower on Friday due to growth concerns after the release of weaker U.S. payrolls data.

The pan European STOXX 600 eased 0.2 percent. The German DAX dipped 0.7 percent, France's CAC 40 gave up 0.3 percent and the U.K.'s FTSE 100 ended marginally lower.