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Sensex, Nifty Set For Flat Start
(RTTNews) - Indian shares are seen opening largely unchanged on Monday as global sentiment remains fragile ahead of the year-end holiday period.
The U.S. GDP data as well as the release of RBI's MPC meeting minutes may sway sentiment as the week progresses.
Auto stocks could be in focus after vehicle makers have announced plans to raise prices in January 2023.
Asian markets traded broadly lower this morning, even as the downside remained capped by China reopening hopes.
At a two-day Central Economic Work Conference that wrapped up on Friday, China's top leaders have pledged to revive consumption and support the private sector, a marked shift from recent years.
The dollar inched lower, helping support precious metals. Oil prices climbed more than 1 percent in Asian trade after having fallen more than $2 a barrel in the previous session.
U.S. stocks fell for a third straight session on Friday and suffered a second straight week of losses on concerns that the Fed's hawkish stance on rate hikes could tip the U.S. economy into a recession.
The Dow slipped 0.9 percent, the tech-heavy Nasdaq Composite lost 1 percent and the S&P 500 gave up 1.1 percent.
European stocks ended lower on Friday to extend a selloff from the previous session amid lingering fears of a global economic recession.
The pan European STOXX 600 dropped 1.2 percent. The German DAX dropped 0.7 percent, France's CAC 40 index shed 1.1 percent and the U.K.'s FTSE 100 declined 1.3 percent.
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