Indian shares are likely to open a tad lower on Tuesday, tracking weak Asian markets and after reports that India deployed additional 50,000 troops along the China border amid a stalemate in the disengagement process in remaining friction points in eastern Ladakh.
Stock-specific action could be seen, with health and tourism-related stocks likely to be in focus after the Centre announced eight new schemes to give a boost to the sectors reeling under the Covid-19 induced restrictions.
Benchmark indexes Sensex and the Nifty gave up early gains to end modestly lower on Monday, while the rupee inched up 1 paisa to settle almost flat at 74.19 against the greenback.
Asian markets were mostly lower this morning as the spread of the more infectious delta variant of the coronavirus resulted in the imposition of new travel restrictions in Europe.
Treasuries and the dollar were steady after gains while oil prices slipped for a second day on worries about slower fuel demand growth.
Gold headed for the biggest monthly drop in more than four years, with gains in U.S. equities and a resurgent dollar weighing on the precious metal.
U.S. stocks closed mixed overnight as falling bond yields weighed on the banking sector and Boeing shares fell sharply after reports that the company’s 777X jet would not be certified until 2023.
The tech-heavy Nasdaq Composite rallied 1 percent to settle at a record closing high and the S&P 500 gained 0.2 percent to reach a new closing high amid easing concerns over inflation, while the Dow dropped 0.4 percent.
European stocks fell notably on Monday due to concerns about the spread of the delta variant Covid-19 in Europe and Asia.
The pan European Stoxx 600 shed 0.6 percent. The German DAX gave up 0.3 percent, France’s CAC 40 index lost 1 percent and the U.K.’s FTSE 100 declined 0.9 percent.
Sensex, Nifty Seen Lower On Weak Asian Cues
2021-06-29 02:56:39
