Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares look set to open on a positive note Tuesday on the back of firm global cues and a continued fall in oil prices as the risk of a significant escalation of hostilities between Israel and Iran eased.

Overall gains, however, may remain limited ahead of key updates on U.S. inflation and corporate earnings this week.

Meanwhile, Mukesh Ambani-led conglomerate Reliance Industries has posted a 2 percent fall in quarterly profit but yet beat estimates.

Benchmark indexes Sensex and Nifty jumped 0.8 percent and 0.9 percent, respectively on Monday to extend gains for a second day running while the rupee gained 7 paise to close at 83.37 against the dollar.

Asian markets traded mixed this morning and oil held overnight losses while Treasuries held steady ahead of a flurry of bond auctions. Gold recovered some ground after losing 2.7 percent on Monday.

U.S. stocks closed higher overnight after a sell-off in the previous session. The S&P 500 climbed 0.9 percent to snap a six-day losing streak as fears of a wider conflict in the Middle East ebbed and investors geared up for quarterly results from megacap companies.

The Dow rose 0.7 percent and the tech-heavy Nasdaq Composite climbed 1.1 percent.

European stocks gained on Monday in the wake of dovish ECB commentary and easing Middle East tensions. The pan European STOXX 600 inched up 0.6 percent.

The German DAX gained 0.7 percent and France's CAC 40 edged up 0.2 percent while the U.K.'s FTSE 100 added 1.6 percent to notch a record close on optimism that the Bank of England will cut interest rates twice this year.