Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares may open on a firm note Tuesday, mirroring positive cues from global markets.

That said, caution ahead of the Q3 earnings season and worries about the HMP Virus outbreak may lead to volatility as the session progresses.

Various states, including the governments of Karnataka, Gujarat, and Maharashtra, have issued an advisory and assured people that there was no cause for alarm. Benchmark indexes Sensex and Nifty tumbled around 1.6 percent each on Monday, with selling seen across the board as a stronger dollar and elevated U.S. bond yields added to concerns over continued foreign fund outflows.

The rupee closed at its weakest for the 10th consecutive trading day at 85.83 per dollar, despite RBI intervention.

Asian stocks were mostly higher this morning after a rally in technology shares boosted Wall Street's main indexes overnight.

The dollar index edged higher in Asian trade, after having fell as much as 1 percent during intraday trading on Monday.

Treasuries were little changed after the yield on the 30-year note climbed to the highest in more than a year on Monday.

Oil steadied after its first drop in six sessions while gold ticked higher as investors awaited more U.S. economic data this week for additional clues on the Fed's rate trajectory.

Trade tensions were back in focus after the United States has placed Tencent Holdings Ltd. and Contemporary Amperex Technology Co. Ltd. on a blacklist due to alleged links to the Chinese military.

U.S. stocks rose broadly overnight, the dollar dropped and yields on long-term Treasury securities edged higher as Foxconn reported record fourth-quarter revenue and President-elect Donald Trump called reports about him considering scaling back his tariff plans, "fake news."

The tech-heavy Nasdaq Composite climbed 1.2 percent and the S&P 500 gained 0.6 percent while the narrower Dow finished marginally lower.

European stocks rose the most in over a month on Monday after reports emerged that the incoming Trump administration may explore softer-than-expected tariffs.

The pan European STOXX 600 advanced 1 percent. The German DAX rallied 1.6 percent, France's CAC 40 surged 2.2 percent and the U.K.'s FTSE 100 added 0.3 percent.