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Sensex, Nifty Seen Flat To Lower At Open
(RTTNews) - Indian shares may open flat to slightly lower on Tuesday, tracking mixed global cues.
The Reserve Bank of India's MPC meeting begins today and concludes on August 10.
The central bank is expected to maintain a status quo on the repo rate despite the recent substantial rise in the prices of vegetables, cereals, and pulses in the country.
IT stocks could be in focus today after reports that top companies such as TCS, Infosys and HCL Tech are looking to hire 40 percent less this fiscal.
Benchmark indexes Sensex and Nifty rose around 0.4 percent each on Monday while the rupee edged up by 5 paise to close at 82.76 against the dollar.
Asian markets traded mixed this morning as investors awaited key inflation readings from the U.S. and China. Chinese trade data for July is also awaited later in the day.
The dollar and Treasury yields edged higher, keeping oil and gold prices under pressure.
U.S. stocks advanced overnight, with financials, consumer services and industrial stocks pacing the gainers ahead of key inflation readings.
The Dow climbed 1.2 percent, the S&P 500 added 0.9 percent and the tech-heavy Nasdaq Composite gained 0.6 percent.
European stocks ended Monday's session on a flat note after spending much of the session in the red in response to weak economic data from Germany and the U.K.
The pan European STOXX 600 finished marginally higher. The German DAX edged down marginally and the U.K.'s FTSE 100 slipped 0.1 percent while France's CAC 40 ended flat with a positive bias.
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