Indian shares look set to open a tad lower on Tuesday in the absence of Wall Street cues and sluggish cues from Asian markets this morning.
Benchmark indexes Sensex and Nifty eked out modest gains on Monday amid mostly positive global cues. The rupee fell by 11 paise to close at 82.73 against the dollar.
Asian markets were mostly lower despite China’s financial regulators lowering down-payment requirements for first and second-time home buyers and cutting rates on existing mortgages.
Investors looked ahead to monetary policy decisions of major central banks, including the Federal Reserve, Bank of England and the European Central Bank.
The dollar held steady, and gold struggled for direction while oil prices held near nine-month highs.
The U.S. stock markets were closed on Monday in observance of Labour Day.
European stocks closed lower on Monday, giving up early gains on China stimulus optimism and hopes of Fed rate pause. The pan European STOXX 600 ended flat with a negative bias.
The German DAX edged down marginally, while France’s CAC 40 and the U.K.’s FTSE 100 both eased around 0.2 percent.
Market Analysis
Sensex, Nifty Seen Flat To Lower At Open
2023-09-05 02:38:02
