Sensex, Nifty May See Cautious Start As Oil Prices Climb
(RTTNews) - Indian shares may open on a cautious note Tuesday, mirroring weak cues from global markets ahead of major global events taking place all through the week, from the presidential election outcome in the U.S. to the Federal Reserve's commentary on the future trajectory of interest rates.
With crude oil prices on fire due to heightened Middle East tensions, concerns over inflation and twin deficits may also weigh on markets.
Asian stocks were mostly lower this morning as risk-off sentiment prevailed. Japanese markets were significantly higher as traders returned to their desks after a long holiday weekend.
The dollar was on the back foot after some polls dented some of the market bets on a victory for Republican Donald Trump.
Gold was marginally lower, driven by diminished rate-cut expectations.
Oil prices were slightly lower in Asian trading after rallying almost 3 percent on Monday following OPEC+'s decision to delay restoring barrels to the market.
U.S. stocks drifted lower overnight as investors refrained from making big bets ahead of the presidential election and the Fed's interest-rate decision.
The Dow shed 0.6 percent, while the tech-heavy Nasdaq Composite and the S&P 500 both dipped around 0.3 percent.
European markets fell broadly on Monday, with technology stocks leading losses. The pan European STOXX 600 eased 0.3 percent.
The German DAX dropped 0.6 percent and France's CAC 40 gave up half a percent while the U.K.'s FTSE 100 finished marginally higher.
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