Indian shares may open a tad higher on Tuesday, tracking firm global cues as Omicron concerns ease.
Also, the latest information indicates that there is an upswing in 19 of 22 economic indicators that are monitored to track progress of economic recovery in India.
Benchmark indexes Sensex and the Nifty plunged around 1.7 percent each on Monday while the rupee fell 28 paise to hit its weakest level in eight weeks at 75.40 against the greenback.
Asian markets were mostly higher this morning after China pledged measures to support slowing economic growth.
Treasuries steadied after tumbling while oil extended gains after climbing nearly 5 percent overnight as Iran nuclear talks hit roadblocks.
U.S. stocks showed a strong move to the upside overnight on hopes that the newest Covid-19 variant will prove less virulent than earlier strains.
The Dow surged 1.9 percent, the tech-heavy Nasdaq Composite gained 0.9 percent and the S&P 500 added 1.2 percent.
European stocks also rallied on Monday after early reports suggested that the Omicron variant have had mild symptoms.
The pan European Stoxx 600 gained 1.3 percent. The German DAX advanced 1.4 percent, while the U.K.’s FTSE 100 and France’s CAC 40 index both rose about 1.5 percent.
Market Analysis
Sensex, Nifty Seen Opening Higher On Firm Global Cues
2021-12-07 02:59:14
