Sensex, Nifty Seen Flat To Higher At Open
(RTTNews) - Indian shares are seen opening flat to slightly higher on Tuesday, tracking muted global cues with U.S. markets closed for Memorial Day holiday.
Banking stocks could be in focus today after RBI Governor Shaktikanta Das pointed out lapses in the governance of some private banks.
In another development, SBI said it has received Rs 14,000 crore of Rs. 2,000 notes as deposits since the RBI withdrew the high value note from circulation on May 23.
In economic releases, a government survey showed India's urban unemployment rate was 6.8 percent in the quarter ending March 2023, the lowest in at least five years.
Benchmark indexes Sensex and Nifty rose around half a percent each on Monday while the rupee ended 4 paise lower at 82.64 against the dollar.
U.S. stock futures were seeing modest gains and Euro zone bone yields slipped, reflecting hope that Congress will pass an accord to head off a default.
Asian markets traded mixed this morning and oil edged higher, while gold hovered near two-month lows on hawkish Fed bets, with focus shifting to manufacturing readings, the U.S. nonfarm payrolls data due later in the week and the upcoming Fed policy meeting in June.
European stocks closed lower on Monday as worries about inflation and further interest rate hikes offset news that the U.S. had reached a debt ceiling deal over the weekend.
The pan European STOXX 600 slipped 0.1 percent, The German DAX and France's CAC 40 both fell around 0.2 percent while the U.K. markets were closed for a bank holiday.
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