Indian shares may open lower on Tuesday, with weak global cues and signs of firming retailing inflation likely to keep underlying sentiment cautious at open.
India’s inflation accelerated again in November, driven by steep increases in food and fuel prices, preliminary data from the statistics ministry showed.
The consumer price index rose 4.91 percent year-on-year following a 4.48 percent increase in the previous month. Economists had forecast 5.10 inflation. A year ago, inflation was 6.93 percent.
Shares of Anand Rathi Wealth will list on bourses today. The Rs 660 crore IPO was subscribed to by investors 9.78 times.
Benchmark indexes Sensex and the Nifty fell about 0.9 percent and 0.8 percent, respectively on Monday while the rupee gave up early gains to end flat at 75.78 against the dollar.
Asian markets were broadly lower this morning and the dollar edged higher as investors braced for monetary policy decision from the Fed, ECB and BOE.
Oil prices eased on doubts over vaccine effectiveness against symptomatic infection from the Omicron variant, while gold was little changed.
U.S. stocks ended firmly in negative territory overnight as travel-related stocks declined on worries about the fast-spreading Omicron coronavirus variant.
The Dow and the S&P 500 dropped around 0.9 percent each, while the tech-heavy Nasdaq Composite tumbled 1.4 percent.
European stocks also closed lower on Monday amid the focus on upcoming central bank policy meetings.
The pan European Stoxx 600 ended 0.4 percent lower. The German DAX finished marginally lower, France’s CAC 40 index shed 0.7 percent and the U.K.’s FTSE 100 gave up 0.8 percent.
Market Analysis
Sensex, Nifty Seen Opening In Red
2021-12-14 03:00:42
