Sensex, Nifty Set For Muted Open On Mixed Global Cues

(RTTNews) - Indian shares are seen opening flat to slightly lower on Tuesday after rising sharply in the previous session as the announcement of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump has fueled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.

However, Trump downplayed expectations for the meeting in Alaska, saying he would confer with Ukraine and European leaders after the sitdown, adding it would be "really a feel-out meeting."

"It'll be good, but it might be bad" and predicted he may say, "lots of luck, keep fighting. Or I may say, we can make a deal."

Benchmark indexes Sensex and Nifty jumped around 0.9 percent each on Monday after six straight weeks of declines.

The rupee reversed early gains to end 17 paise lower at 87.75 against the U.S. dollar, pressured by persistent importer demand for the greenback, foreign fund outflows and uncertainty over trade issues with the United States.

Foreign investors offloaded shares worth Rs 1,202 crore on a net basis Monday, while domestic investors bought shares to the tune of Rs 5,972 crore, as per provisional data.

Asian stocks were mostly higher this morning, with Japan's Nikkei surging over 2 percent to hit a new record high as the United States and China agreed to extend their tariff truce for another 90 days.

The dollar edged lower in Asian trade, Treasuries were little changed, and oil prices were marginally higher ahead of key U.S. CPI inflation data due later in the day. Gold ticked higher following a 1.6 percent drop on Monday after Trump declared that gold imports would not face additional tariffs.

U.S. stocks ended lower overnight as investors braced for the release of U.S. inflation data and the upcoming Trump-Putin meeting on Ukraine.

The Dow dropped half a percent while the tech-heavy Nasdaq Composite and the S&P 500 both eased around 0.3 percent.

European stocks ended mostly lower on Monday as investors refrained from making big bets ahead of an eventful week. The pan European STOXX 600 finished marginally lower. The German DAX gave up 0.3 percent and France's CAC 40 declined 0.6 percent while the U.K.'s FTSE 100 added 0.4 percent, snapping a two-day losing streak.