Indian shares are seen opening higher on Tuesday, tracking gains among Asian peers and U.S. index futures as investors weighed the resilience of the global economic recovery to tightening monetary policy.
Benchmark indexes Sensex and the Nifty tumbled around 1.7 percent each on Monday to extend their losing streak for the third straight session.
Asian markets were mostly higher, though Chinese and Hong Kong stocks slipped after Alibaba Group Holdings shares tumbled in the U.S. trading overnight.
A dollar gauge was stable, gold held steady near one-week high and benchmark 10-year U.S. Treasuries were steady near their highest levels since December 2019 scaled in the previous session, as investors await U.S. inflation data due this week for clues to the timing of expected policy tightening.
Oil’s scorching rally took a breather ahead of the Iran nuclear talks, while Bitcoin held gains to trade around $44,000.
U.S. stocks gave up early gains to end mostly lower overnight as Meta Platforms continued to fall after its bleak forecast last week and amid data privacy issues with the European Union.
The Dow finished marginally higher while the S&P 500 and the tech-heavy Nasdaq Composite index shed 0.4 percent and 0.6 percent, respectively.
European stocks closed higher on Monday, helped by gains in the mining sector and a slew of positive earnings reports.
The pan European Stoxx 600 gained 0.7 percent. The German DAX added 0.7 percent, while France’s CAC 40 index and the U.K.’s FTSE 100 both surged around 0.8 percent.
Market Analysis
Sensex, Nifty Seen Tad Higher At Open
2022-02-08 03:03:49
