Indian shares look set to open on a flat note Tuesday, a day after key benchmark indexes scaled fresh peaks amid signs of easing COVID-19 restrictions in several states and a sharp recovery in the rupee.
Benchmark indexes Sensex and the Nifty rose about half a percent on Monday to hit record highs, while the rupee surged by 19 paise to end at 72.80 (provisional) against the U.S. dollar, buoyed by persistent fund inflows into capital markets.
Asian markets were little changed this morning as investors awaited more clues on the outlook for inflation and central bank stimulus.
The dollar cut losses and yields held steady while oil extended declines on concerns about the fragile state of the global recovery in demand for crude and fuels.
U.S. stocks ended mixed overnight amid lingering inflation worries and news of a global minimum corporate tax rate.
The Dow dropped 0.4 percent and the S&P 500 slipped 0.1 percent while the tech-heavy Nasdaq Composite rose half a percent.
European stocks also ended Monday’s session on a mixed note after U.S. Treasury Secretary Janet Yellen’s comments on spending, inflation and interest rates.
The pan European Stoxx 600 rose 0.2 percent. The German DAX slid 0.1 percent, while France’s CAC 40 index gained 0.4 percent and the U.K.’s FTSE 100 edged up 0.1 percent.
Sensex, Nifty Seen Opening Flat On Muted Asian Cues
2021-06-08 02:48:28
