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Indian Markets Closed For Muharram
(RTTNews) - Indian stock markets remain closed today on account of Muharram.
Benchmark indexes Sensex and the Nifty jumped around 0.8 percent and 0.7 percent, respectively on Monday, while the rupee fell by 40 paise to 79.65 against the dollar on concerns over aggressive rate hikes by the Federal Reserve.
Asian markets traded mixed this morning as investors await Wednesday's inflation data from the United States for additional clues on the rate outlook.
Economists have suggested that the inflation data could have an even greater impact on Fed officials' thinking than the jobs data.
The dollar lurked just below recent highs and gold held on to recent gains to hover around $1,800 per ounce, while oil prices dipped after having risen nearly 2 percent in the U.S. trading session.
U.S. stocks ended a choppy session narrowly mixed overnight, as Nvidia announced weaker-than-expected revenue for the second quarter, the Senate passed the Inflation Reduction Act and a New York Fed survey showed consumers' inflation expectations fell sharply in July.
European stocks closed higher on Monday, with falling bond yields and robust earnings helping underpin sentiment.
The pan European Stoxx 600 gained 0.7 percent. The German DAX and France's CAC 40 index both rose about 0.8 percent while the U.K.'s FTSE 100 climbed 0.6 percent.
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