Sensex, Nifty Seen Higher At Open

RTTNews | 73 일 전
Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares may see a positive start on Tuesday after a rebound in in big tech drove U.S. stocks higher overnight.

That said, volatility cannot be ruled out due to FII selling, signs of fragility in the U.S. economy and rising oil prices amid escalation geopolitical tensions, with a second round of direct peace talks between Russia and Ukraine ending without a major breakthrough.

Foreign institutional investors (FIIs) extended their selling spree for a second consecutive session on June 2 and offloaded shares worth Rs 2,589 crore, while domestic institutional investors (DIIs) extended their buying spree for a tenth day and bought shares to the extent of Rs 5,313 crore, as per provisional data.

Benchmark indexes cut early loses before ending on a flat note Monday. The rupee gained 16 paise to settle at 85.39 against the U.S. dollar.

Asian markets were mostly higher this morning as the U.S. Trade Representative (USTR) extended tariff exclusions on certain seafood products from China through the end of August, and the Trump administration reportedly asked its trade partners to provide their "best offer" on trade negotiations by Wednesday, in order to finalize deals before July 8.

Gold dipped slightly but hovered near a four-week peak on a weaker dollar and simmering trade risks.

Oil extended overnight gains on concerns about supply, with production in Canada hit by wildfires and reports suggesting that Iran is set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer.

U.S. stocks shrugged off weak manufacturing data as well as mounting global trade and geopolitical tensions to end modestly higher overnight.

The tech-heavy Nasdaq Composite climbed 0.7 percent, the S&P 500 rose 0.4 percent and the Dow inched up marginally after a White House official told CNBC that U.S. President Trump and Chinese President Xi Jinping will probably speak soon to address tariff disputes and improve relations.

European stocks ended mostly lower on Monday due to rising Sino-U.S. trade tensions and Trump's steel tariff threat.

The pan European STOXX 600 eased 0.1 percent. The German DAX dipped 0.3 percent and France's CAC 40 slid 0.2 percent while the U.K.'s FTSE 100 finished marginally higher.

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