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Sensex, Nifty Seen Opening Little Changed
(RTTNews) - Indian shares are seen opening little changed on Tuesday, tracking muted cues from other Asian markets as jitters persist over U.S. tariffs and fiscal deficit.
Benchmark indexes Sensex and Nifty climbed around 0.6 percent each on Monday, driven by gains in rate-sensitive auto and banking stocks as India overtook Japan to become the world's fourth-largest economy.
The rupee gained 35 paise to close at 85.10 against the dollar, extending gains for a second straight session, buoyed by a weak American currency overseas and the RBI's announcement of a record dividend of Rs 2.69 lakh crore to the government for FY25.
Media reports suggest that the RBI is seeking approval to allow domestic banks to lend the currency to overseas borrowers for the first time as part of efforts to internationalize the rupee.
Asian markets fluctuated this morning and the dollar edged down while gold was little changed. Oil was slightly lower ahead of an OPEC+ meeting that will decide on supply policy.
U.S. markets were closed on Monday in observance of Memorial Day. In Europe, stocks ended higher on Monday as U.S. President Donald Trump postponed the implementation of 50 percent tariffs on the European Union goods to July 9 from June 1.
The pan European STOXX 600 gained 1 percent. The German DAX rallied 1.7 percent and France's CAC 40 added 1.2 percent while the U.K. market was shut for Spring Bank Holiday.
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