Indian shares look set to open a tad higher on Tuesday despite mixed cues from global markets.
Stock-specific action may be seen, with investors unlikely to take large positions ahead of U.S. tech earnings and policy announcements by the U.S. Fed and Bank of England in early May.
Benchmark indexes Sensex and Nifty jumped around 0.7 percent each on Monday on the back of encouraging earnings updates from the likes of Reliance Industries and ICICI Bank. The rupee gained 15 paise to close at 81.91 against the dollar.
Asian markets traded mixed this morning, with Australian and New Zealand markets shut for a holiday.
The dollar weakened and Treasury yields edged lower, giving investors some respite ahead of a busy week for earnings and economic data releases.
Gold approached the $2,000 per level on dollar weakness while oil extended gains for a third day on optimism about fuel demand in China.
U.S. stocks closed mixed overnight as investors braced for mega tech earnings, economic data and central bank meetings in the coming days.
The Dow edged up 0.2 percent and the S&P 500 inched up marginally while the tech-heavy Nasdaq Composite shed 0.3 percent.
European stocks closed flat after a choppy ride on Monday. The pan European STOXX 600 finished marginally lower.
The German DAX slipped 0.1 percent, while France’s CAC 40 and the U.K.’s FTSE 100 ended little changed with a negative bias.
Market Analysis
Sensex, Nifty To Open On Firm Note
2023-04-25 02:27:16
