Sensex, Nifty May See Cautious Start On Fed Tightening Worries

(RTTNews) - Indian shares are seen opening a tad lower on Monday as anxiety persists about central banks' plans to continue with rate hikes.

Q1 earnings results from IT giants such as TCS, Wipro and HCL Technologies along with macroeconomic reports on inflation and industrial output may sway markets as the week progresses.

Adani Group stocks will be in focus today after an announcement that the family has raised USD 1.38 billion (Rs. 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises, Adani Green Energy and Adani Transmission.

Asian markets traded mixed this morning as U.S. Treasury Secretary Janet Yellen concluded her visit to Beijing and China's June inflation data missed expectations.

The dollar was on the back foot and Treasury yields slipped from last week's highs while gold was little changed ahead of key U.S. consumer and producer price inflation reports due this week.

Oil prices were subdued after climbing about 3 percent last week to a nine-week high on supply concerns.

U.S. stocks declined on Friday to end lower for the week, as a mixed jobs report showing slower job growth for June but persistently strong wage growth and a slight drop in the unemployment rate heightened fears that the Fed may resume rate hikes later this month.

The Dow shed 0.6 percent, the S&P 500 edged down 0.3 percent and the tech-heavy Nasdaq Composite slid 0.1 percent.

European stocks finished slightly higher on Friday after suffering heavy losses in the previous session.

The pan European STOXX 600 ended flat with a positive bias. The German DAX rose half a percent and France's CAC 40 gained 0.4 percent while the U.K.'s FTSE 100 eased 0.3 percent.