Indian shares look set to open on a flat note Tuesday, tracking mixed global cues as concerns persist about the spread of more dangerous variants of coronavirus.
Benchmark indexes Sensex and the Nifty ended a tad higher on Monday, while the rupee slipped 11 paise to close at 74.26 against the dollar, snapping its five-session winning streak.
Asian stocks traded mixed this morning, with Japanese markets rising as trading resumed after a holiday.
The dollar was buoyant in early Asian trade after two Fed officials said the U.S. economy is growing rapidly and that inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes.
Treasury yields held overnight gains and oil edged up after hitting a three-week low in the previous session, while Bitcoin traded back around $46,000.
U.S. stocks fell from record highs overnight and commodities slumped, as investors fretted over an early tapering of the Federal Reserve’s economic support measures and new coronavirus-related restrictions in Asia, especially China.
The Dow dropped 0.3 percent and the S&P 500 slipped marginally while the tech-heavy Nasdaq Composite index edged up 0.2 percent.
European stocks ended mixed on Monday as surging COVID-19 cases in the United States and China threatened to slow economic recovery.
The pan European Stoxx 600 rose 0.2 percent. The German DAX and France’s CAC 40 index both edged down 0.1 percent while the U.K.’s FTSE 100 inched up 0.1 percent.
Market Analysis
Sensex, Nifty Poised For Flat Opening
2021-08-10 02:57:01
