Sensex, Nifty Seen Flat To Slightly Lower At Open
(RTTNews) - Indian shares may open on a tepid note Tuesday in the wake of weak global cues and amid caution ahead of the Union Budget 2023 on February 1.
The Economic Survey, an annual report released by the Finance Ministry with complete analysis of the economy and projections for economic growth, will be tabled in Parliament today.
Benchmark indexes Sensex and Nifty fluctuated before finishing modestly higher on Monday, led by IT and PSU bank stocks. The rupee rose by 7 paise to close at 81.52 on the back of dollar weakness in overseas markets.
Asian markets were flat to slightly lower this morning as the Fed's two-day meeting gets underway later today.
The Bank of England and the European Central Bank are also scheduled to announce their rate decisions this week.
The dollar was eyeing a fourth monthly loss and gold held steady while oil prices edged up slightly after having fallen nearly 2 percent in the previous session on demand concerns.
U.S. stocks began the new week on a downbeat note Monday as caution crept in ahead of a slew of earnings from top tech firms and the Federal Reserve's monetary policy decision.
The tech-heavy Nasdaq Composite lost 2 percent, while the Dow slipped 0.8 percent and the S&P 500 shed 1.3 percent.
European stocks slipped on Monday and Eurozone bond yields climbed, as hotter-than-expected inflation data from Spain brought inflation worries back into focus.
The pan-European STOXX 600 slid 0.2 percent. The German DAX and France's CAC 40 index both eased around 0.2 percent while the U.K.'s FTSE 100 gained 0.3 percent.
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