Sensex, Nifty Set To Follow Global Peers Higher
(RTTNews) - Indian shares may follow global peers higher on Tuesday, though volatility is not ruled out ahead of F&O expiry and a holiday for markets on Thursday for Sri Ram Navami.
Oil & gas, airline, auto and paint manufacturing companies would be in focus after oil prices jumped nearly 5 percent overnight to record their biggest gains in months amid Russia's threat to station nuclear weapons in Belarus and the shutdown of the Iraq-Turkey pipeline at the request of the Turkish government.
Benchmark indexes Sensex and Nifty rose around 0.2 percent each on Monday while the rupee gained 9 paise to close at 82.31 against the dollar.
Asian stocks were broadly higher this morning, while oil prices fell slightly after rallying overnight on supply concerns.
The dollar extended declines for a second day running while gold edged up after falling around 1 percent on Monday.
U.S. stocks ended mixed overnight after reports of further government support for regional banks and the sale of SVB assets to First Citizens.
The Dow rose 0.6 percent and the S&P 500 inched up 0.2 percent while the tech-heavy Nasdaq Composite shed half a percent, as Treasury yields climbed on optimism that stress in the banking sector will be contained.
European stocks closed Monday's session higher as jitters in the banking sector eased and data signaled improvement in German business climate.
The pan European STOXX 600 climbed 1 percent. The German DAX rallied 1.1 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both rose about 0.9 percent.
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