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Sensex, Nifty Seen Tad Higher Despite Muted Global Cues
(RTTNews) - Indian shares look set to open a tad higher on Monday despite muted cues from global markets.
That said, volatility cannot be ruled out due to upcoming derivatives expiry, the ongoing diplomatic tension between India and Canada, concerns over rising oil prices and continuous FII selling.
Benchmark indexes Sensex and Nifty fell around 2.7 percent and 2.6 percent, respectively last week after hawkish remarks on interest rates from the U.S. and Federal Reserve and other major central banks.
Asian markets were mostly lower this morning, with Japanese shares bucking the weak trend.
The dollar extended gains from last week, keeping bullion prices under pressure. Oil prices were slightly higher due to increasing bets on supply constraints.
U.S. stocks ended lower for a fourth day running on Friday as yields climbed amid growing fears that the Federal Reserve may keep interest rates higher for longer.
Concerns about a potential government shutdown also added to angst over lofty interest rates.
The tech-heavy Nasdaq Composite finished marginally lower to end at its lowest level in over three months while the S&P 500 slipped 0.2 percent to hit a three-month closing low and the Dow dropped 0.3 percent to reach a two-month closing low.
European stocks closed mostly lower on Friday as data showed business activity in the euro zone currency bloc contracted again in September.
The pan European STOXX 600 declined 0.3 percent. The German DAX finished marginally lower and France's CAC 40 shed 0.4 percent while the U.K.'S FTSE 100 closed flat with a positive bias.
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