Sensex, Nifty Set For Softer Start

Indian shares are seen opening a tad lower on Tuesday as traders weigh a jump in crude oil prices and deteriorating U.S.-China relations, with China’s cybersecurity officials launching investigations into three more apps operated by U.S.-listed companies.

Oil extended gains from the previous session, with Brent futures holding steady near $77 a barrel on expectations of a tighter market as oil producers ended days of talks without a new output deal.

Asian markets traded mixed this morning amid lingering jitters from China’s security crackdown. The dollar was little changed and Treasuries dipped as investors await the minutes from the Fed’s June policy meeting, due on Wednesday, for more clues on tapering.

Overnight, U.S. markets were closed for the Independence Day holiday.

European stocks closed higher on Monday as upbeat regional business activity data helped outweigh concerns about the spread of the delta variant of the coronavirus.

The pan European Stoxx 600 edged up 0.3 percent. The German DAX inched up 0.1 percent, France’s CAC 40 index gained 0.2 percent and the U.K.’s FTSE 100 advanced 0.6 percent.

Closer home, benchmark indexes Sensex and the Nifty jumped around 0.7 percent each on Monday while the rupee settled 43 paise higher at 74.31 against the greenback, snapping its four-day losing streak.