Sensex, Nifty To See Muted Start

(RTTNews) - Indian shares look set to open on a muted note Tuesday, tracking mostly weak cues from other Asian markets.

External Affairs Minister S Jaishankar met his U.S. counterpart Marco Rubio in Malaysia to discuss bilateral ties but there was no readout by either side of the meeting.

Later, while delivering India's national statement at the East Asia summit, Jaishankar took a dig at the U.S. and European countries, saying principles of energy trade were being applied selectively.

Benchmark indexes Sensex and Nifty jumped around 0.7 percent each on Monday on increased optimism for an U.S.-India trade agreement.

The rupee slumped 43 paise to close at 88.26 against the U.S. dollar amid rising crude prices and month-end dollar demand.

Foreign investors net sold shares worth Rs. 56 crore on Monday, while domestic institutional investors remained net buyers, purchasing shares worth Rs 2,492 crore, according to provisional exchange data.

Asian markets pulled back from Monday's record highs this morning as investors braced for earnings reports from five major U.S. technology companies as well as monetary policy announcements from several central banks, including the European Central Bank, the Federal Reserve and the Bank of Japan.

The dollar edged lower against major currencies amid hopes the Fed will cut its benchmark rate by 25 basis points on Wednesday.

Gold recovered some ground after plunging more than 3 percent to trade below $4000 an ounce in regular trading on Monday.

Oil extended a two-day drop as investors weighed signs of a glut and the fallout from U.S. sanctions on Russian producers.

Overnight, U.S. stocks hit new record highs ahead of a pivotal week featuring the Federal Reserve's interest rate decision, a barrage of big tech earnings and Thursday's high stakes meeting between President Trump and his counterpart Xi.

On his way to Japan, Trump expressed optimism about reaching a trade deal with China after signing separate trade and mineral agreements with his Malaysian and Cambodian counterparts.

The S&P 500 rallied 1.2 percent to close above 6,800 for the first time in its strongest three-day rally since May.

The tech-heavy Nasdaq Composite surged 1.9 percent as Qualcomm announced new chips for AI data centers. The Dow gained 0.7 percent.

European stocks edged up slightly on Monday as U.S.-China trade tensions eased and focus shifted to upcoming central bank meetings.

The pan-European Stoxx 600 added 0.2 percent. The German DAX rose 0.3 percent, France's CAC 40 inched up by 0.2 percent and the U.K.'s FTSE 100 finished marginally higher.