Sensex, Nifty Set For Muted Start
(RTTNews) - Indian shares are seen opening on a cautious note Tuesday as investors fret about the potential impact of higher U.S. tariffs and await the outcome of talks between U.S. and Russia delegations over a resolution in the war in Ukraine this week.
Benchmark indexes Sensex and Nifty ended marginally higher on Monday to snap an eight-day losing streak while the rupee fell by 16 paise to close at 86.87 against the greenback due to continued foreign fund outflows and a recovery in the dollar index from intraday lows.
Asian markets were mostly lower this morning, though Hong Kong stocks rose notably on optimism around a revival in China's economy following a meeting between President Xi Jinping and prominent business figures to help boost private sector spending. The dollar wobbled near two-month lows amid trade policy uncertainty and ahead of the release of minutes of the Federal Reserve's January meeting on Wednesday.
Gold was little changed below $2,900 per ounce while oil prices were mixed after OPEC+ delegates said the group was considering delaying restoring output.
U.S. markets were closed overnight for Washington's Birthday.
European stocks marked a record close high on Monday, with defense stocks rallying as EU leaders convened an emergency meeting in Paris for talks on Ukraine and to ramp up regional security.
The pan European STOXX 600 gained half a percent. The German DAX jumped 1.3 percent, France's CAC 40 edged up 0.1 percent and the U.K.'s FTSE 100 added 0.4 percent.
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