(RTTNews) – Indian shares look set to open on a flat note on Tuesday despite mostly positive cues from global markets.
Tariff worries may keep investors on edge after Peter Navarro, Donald Trump’s trade adviser, on Monday stepped up his attack on India for its trade policies and oil purchases from Russia.
Benchmark indexes Sensex and Nifty ended down around 0.2 percent each on Monday due to profit taking after recent gains.
While the Sensex snapped a five-day winning streak, the Nifty index snapped an eight-session winning streak. The rupee closed up by 6 paise at 88.20 against the dollar.
Foreign investors offloaded shares worth Rs 1,269 crore on a net basis on Monday while domestic institutional investors bought shares to the tune of Rs 1,933 crore, provisional exchange data showed.
Asian markets were mostly higher this morning ahead of the Federal Reserve’s monetary policy announcement due later this week.
The dollar index steadied after sliding in the prior session. Gold was little changed after rising to a new record in the New York session overnight.
Oil prices were slightly higher after Ukraine hit Russia’s 355,000 bpd Kirishi refinery with drones and the Israeli military launched a ground offensive on Monday to occupy Gaza City.
U.S. stocks rose overnight following positive comments from President Donald Trump about trade talks between top U.S. and Chinese officials in Europe.
In a post on Truth Social, Trump said that the talks have “gone VERY WELL!” adding that a “deal was also reached on the sale of Chinese-owned social media TikTok.
Trump also said that he will be speaking with Chinese President Xi Jinping on Friday and described the relationship as “a very strong one.”
In another development, China’s antitrust regulator said an initial investigation showed Nvidia violated antimonopoly law.
The tech-heavy Nasdaq Composite and the S&P 500 gained 0.9 percent and half a percent, respectively to reach new record closing highs while the Dow inched up 0.1 percent.
European stocks ended near a three-week high on Monday ahead of key central bank decisions due this week, including those in the U.S., Britain, Japan and Canada.
The pan European STOXX 600 rose 0.4 percent. The German DAX edged up by 0.2 percent and France’s CAC 40 jumped 0.9 percent while the U.K.’s FTSE ended marginally lower.
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