Sensex, Nifty Likely To See Muted Start
(RTTNews) - Indian shares are seen opening on a flat note Tuesday as investors react to mixed cues from global markets and the appointment of Revenue secretary Sanjay Malhotra as the new RBI governor.
Overall gains, if any, are likely to remain limited ahead of domestic and U.S. inflation readings due this week. As the conflict in the Middle East widens, oil price movements are also likely to be watched closely.
Benchmark indexes Sensex and Nifty ended down around 0.2 percent each on Monday, with FMCG stocks leading declines.
The rupee dropped 8 paise to close at 84.74 against the U.S. dollar, dragged down by fresh foreign fund outflows.
Asian markets traded mostly higher this morning, a day after China's top leaders pledged to loosen monetary policy and provide more support for the slowing economy.
The U.S. dollar edged to the highest level this month against the yen and gold ticked higher, while oil prices traded mixed after ending sharply higher in the previous session.
U.S. stocks ended lower overnight after climbing to record highs Friday. The Dow dipped half a percent while the tech-heavy Nasdaq Composite and the S&P 500 both shed around 0.6 percent as the Middle East conflict escalated and key inflation data loomed.
European stocks closed higher for an eighth straight session on Monday as investors weighed the prospect for bolder Chinese monetary and fiscal stimulus next year.
The pan European STOXX 600 edged up by 0.1 percent. France's CAC 40 climbed 0.7 percent and the U.K.'s FTSE 100 added half a percent while the German DAX slid 0.2 percent.
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