Indian shares are seen opening flat to slightly lower on Tuesday as investors weigh the prospect that global central banks would continue to increase interest rates to combat inflation.
Benchmark indexes Sensex and Nifty gave up early gains to end lower on Monday while the rupee gained 9 paise to close at 82.73 against the dollar.
Asian markets drifted lower this morning as investors reacted to weak purchasing manager index reports from Japan and Australia and kept a wary eye on the latest geopolitical developments.
U.S. President Joe Biden made an unannounced visit to Kyiv ahead of the one-year anniversary of Russia’s invasion of Ukraine amid mounting concerns over China’s stand on Russia and Ukraine.
U.S. Secretary of State Antony Blinken warned China of consequences should it provide material support to Russia and North Korea fired more missiles.
Gold edged higher in Asian trading, oil prices fell, and the dollar weakened as investors awaited minutes of the Fed’s latest policy meeting due to be released on Wednesday for more clarity on the outlook for inflation and the pace of interest-rate increases going ahead.
The U.S. markets were closed on Monday for Presidents Day holiday.
European stocks ended narrowly mixed on Monday after a choppy day of trading. The pan-European STOXX 600 ended flat with a positive bias.
The German DAX finished marginally lower and France’s CAC 40 index eased 0.2 percent while the U.K.’s FTSE 100 inched up 0.1 percent.
Market Analysis
Sensex, Nifty Set For Cautious Start On Weak Asian Cues
2023-02-21 02:31:13
