Indian shares may open a tad lower on Tuesday as investors look ahead to Fed Chair Jerome Powell’s testimonies and the Bank of England’s rate decision due this week for clues on the monetary policy path ahead.
Adani Group stocks could be in focus today after Adani Enterprises and Adani Transmission received shareholder approval to raise funds up to Rs. 21,000 crore through qualified institutional placements.
Benchmark indexes Sensex and Nifty ended Monday’s session marginally lower, tracking weak cues from global markets.
Asian markets were broadly lower this morning despite China cutting its one-year and five-year loan prime rate by 10 basis points each, as widely expected.
The dollar was buoyant on concerns over China’s tepid post-pandemic recovery, pushing gold and oil prices lower.
U.S. markets were closed on Monday for the Juneteenth holiday.
European stocks fell notably on Monday as investors fretted about the outlook for inflation, interest rates and economic growth.
The pan European STOXX 600 lost 1 percent. The German DAX and France’s CAC 40 both fell around 1 percent while the U.K.’s FTSE 100 shed 0.7 percent.
Market Analysis
Sensex, Nifty Set To Follow Asian Peers Lower
2023-06-20 02:35:38
