Sensex, Nifty Seen Opening On Flat Note

Indian shares may open on a flat note Tuesday, tracking mixed global cues, a firmer dollar and rising crude oil prices.

Benchmark indexes Sensex and the Nifty ended Monday’s session on a flat note while the rupee ended 15 paise lower at 73.83 against the greenback.

Asian markets traded mixed this morning amid continued uncertainty around China’s financially-troubled property developer Evergrande.

The dollar strengthened and the U.S. two-year yield hit an 18-month high as traders increasingly priced in the prospect of the Fed trimming its $120 billion in monthly asset purchases soon.

Brent hovered near three-year high and WTI crude hovered above $75 a barrel on fears of a global energy crunch. Gold prices eased while Bitcoin swung between $42,000 and $43,000.

U.S. stocks ended mixed overnight and treasury yields rose as investors looked ahead to speeches from several Fed officials and kept a wary eye on the developments surrounding debt-laden China Evergrande.

In economic news, new orders for durable goods waltzed past analyst expectations, but much of the gain came from a big jump in aircraft orders.

The Dow edged up 0.2 percent, while the S&P 500 eased 0.3 percent and the tech-heavy Nasdaq Composite shed half a percent.

European stocks rose on Monday as investors reacted to the German election results and ECB President Christine Lagarde’s comments that many causes of inflation spike are temporary.

The pan European Stoxx 600 slid 0.2 percent. The German DAX rose 0.3 percent, while France’s CAC 40 index and the U.K.’s FTSE 100 both edged up around 0.2 percent.