Indian shares may open slightly lower on Tuesday as investors await GDP data for the April-June quarter due around noon for clues to economic recovery.
A recent poll of economists suggests that India’s GDP grew roughly 20 percent in the June quarter.
In the three months between January and March, India’s economy grew 1.6 percent compared with a year earlier.
Benchmark indexes Sensex and the Nifty jumped around 1.4 percent each to reach to reach fresh record closing highs on Monday and the rupee soared 40 paise to close at a more than 2-month high of 73.29 against the dollar, buoyed by dovish Fed commentary.
Asian markets traded mostly lower this morning as increased curbs on Chinese video-gaming firms put the spotlight back on the clampdown on technology companies. Also, China’s securities regulator said it plans to rein in the country’s private equity and venture capital funds.
Gold firmed up as the dollar hovered near two-week lows against a basket of currencies. Oil returned to weakness as traders weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida.
U.S. stocks ended mostly higher overnight, with optimism over economic recovery and easing fears of a sudden tapering in monetary stimulus helping underpin sentiment.
The S&P 500 rose 0.4 percent and the Nasdaq Composite gained 0.9 percent to reach new record closing highs while the Dow slid 0.2 percent.
European stocks ended on a flat note Monday after the release of disappointing euro zone data.
The pan European Stoxx 600 ended flat with a positive bias. The German DAX and France’s CAC 40 index edged up 0.2 percent and 0.1 percent, respectively while the U.K. markets were closed for a bank holiday.
Sensex, Nifty Poised For Weak Start Ahead Of GDP Data
2021-08-31 03:01:35
