Sensex, Nifty Seen Tad Higher At Open On Firm Asian Cues

(RTTNews) - Indian shares look set to open flat to slightly higher on Monday, as better than expected U.S. jobs data allayed fears of a global economic slowdown but stirred anxiety over the pace of future rate increases.

The release of PMI data as well as the outcome of RBI's MPC meeting may sway sentiment as the week progresses.

The RBI's MPC meeting is scheduled during December 5-7, with the central bank expected to moderate the interest rate hikes after three consecutive increases interest rates of 50 basis points.

Asian markets traded mostly higher this morning, with Chinese and Kong stocks leading regional gains, after more Chinese cities eased COVID-related restrictions.

The dollar slipped on improved risk sentiment amid China reopening hopes while oil prices jumped more than 1 percent after OPEC+ nations reaffirmed their output targets.

An EU embargo on seaborne Russian oil will likely take effect today after the Group of Seven clinched a last-minute deal to cap the price of Russian crude at $60 per barrel.

U.S. stocks ended narrowly mixed on Friday as robust jobs data added to uncertainty about the outlook for interest rates.

Non-farm payroll employment beat expectations, adding 263,000 jobs in November led by the service sector.

While the jobless rate held steady at 3.7 percent, the retail trade and transportation and warehousing categories both lost jobs last month, highlighting weak spots in the economy.

The Dow inched up 0.1 percent, while the S&P 500 slipped 0.1 percent and the tech-heavy Nasdaq Composite eased 0.2 percent.

European markets ended Friday's session mostly lower after having hit a six-month high in the previous session.

The pan-European STOXX 600 eased 0.2 percent. The German DAX rose 0.3 percent, France's CAC 40 index slid 0.2 percent and the U.K.'s FTSE 100 finished marginally lower.