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Sensex, Nifty Likely To Open On Steady Note, IT Stocks In Focus
(RTTNews) - Indian shares look set to open on a steady note Tuesday despite sluggish global cues.
IT stocks could be in focus after TCS beat estimates on Q2 profit and growth and Infosys said it would consider a buyback proposal when its board meets on October 13.
Benchmark indexes Sensex and Nifty ended Monday's session modestly lower while the rupee recovered from a record low to end on a flat note at 82.32 per dollar after RBI intervention.
Asian markets traded mixed this morning amid a flare-up in COVID-19 cases in China and escalating tensions between Russia and Ukraine.
Taiwan's benchmark index tumbled 3.7 percent on its return to trade as investors weighed the impact of new U.S. rules on chipmaker TSMC.
The dollar held firm while oil extended losses after falling nearly 2 percent in the U.S. trading session.
U.S. stocks closed lower for a fourth straight session overnight, as concerns over aggressive monetary policy tightening and increased geopolitical risks lifted the dollar gauge to the highest level this month.
The Dow slipped 0.3 percent, the S&P 500 shed 0.8 percent and the tech-heavy Nasdaq Composite fell 1 percent.
European stocks also extended losses for a fourth day running on Monday amid heightened geopolitical tensions and news of fresh lockdowns in China.
The pan European Stoxx 600 eased 0.4 percent. The German DAX finished marginally lower while France's CAC 40 index and the U.K.'s FTSE 100 both fell around half a percent.
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