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(RTTNews) – Indian shares may open on a tepid note Tuesday, tracking mixed Asian cues and rising oil prices.
Financials could be in focus after the Reserve Bank of India (RBI) said State Bank of India, ICICI Bank and HDFC Bank continue to remain Domestic Systemically Important Banks that are too big to fail.
Benchmark indexes Sensex and Nifty ended Monday’s range-bound session modestly higher after the release of auto sales and manufacturing data.
The rupee declined by 14 paise to close at 82.75 against the greenback on the back of rising crude oil prices and sustained foreign fund outflows.
Asian markets traded mixed this morning after the head of the International Monetary Fund warned of a tougher 2023, citing the war in Ukraine, higher interest rates and the rapid spread of coronavirus infections in China.
The dollar held steady as investors looked ahead to the release of a slew of U.S. economic data and minutes of the last Federal Reserve meeting this week for additional clues on the outlook for inflation and interest rates.
Gold traded higher while oil prices slipped from their highest levels in a month on fuel demand concerns.
U.S. markets were closed on Monday on account of the New Year holiday.
In Europe, stocks kicked off 2023 on a positive note after a survey showed the intensity of the eurozone manufacturing sector downturn eased in the final month of 2022.
The pan-European STOXX Europe 600 gained 1 after recording its worst annual performance since 2018 last year.
The German DAX rallied 1.1 percent and France’s CAC 40 index climbed 1.9 percent while markets in London remained closed.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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