Indian shares look set to open higher on Tuesday after a slew of exit polls predicted that the Yogi Adityanath-led BJP is likely to win another term by a landslide in Uttar Pradesh.
A cautious undertone may prevail as a continued surge in oil prices raised worries about inflation and economic growth.
Benchmark indexes Sensex and the Nifty slumped 2.7 percent and 2.4 percent, respectively on Monday amid a global sell-off while the rupee breached the 77 level for the first time to enter the unchartered territory.
Asian markets were broadly lower in cautious trade this morning after the third round of peace talks between Russian and Ukrainian negotiators failed to achieve significant results in Belarus on Monday.
The U.S. dollar held firm near a multi-month peak and gold slid from the key $2,000-per-ounce mark, while oil continued an upward trend after closing near a 14-year high on Monday.
U.S. stocks fell for a third straight session overnight amid heightening economic risks from the Ukraine crisis.
The Dow dropped 2.4 percent and the S&P 500 shed 3 percent to eleven and eight-month closing lows, respectively while the tech-heavy Nasdaq Composite tumbled 3.6 percent to end at its lowest level in a year.
European stocks hit one-year lows on Monday as Western countries mulled a Russian oil import ban.
The pan European Stoxx 600 gave up 1.1 percent. The German DAX lost 2 percent, France’s CAC 40 index fell 1.3 percent and the U.K.’s FTSE 100 eased 0.4 percent.
Sensex, Nifty Set To Open Higher In Cautious Trade
2022-03-08 03:00:25
