Indian shares are seen opening slightly lower on Monday after Tata Steel reported a bigger-than- expected drop in its fourth-quarter consolidated net profit post markets hours on Friday, hit by weak prices, lower volumes and high raw material costs in its main European market.
Commodities are gaining ground and the euro is surging higher against its most major counterparts, while Asian markets are trading on a mixed note.
Investors await the outcome of a meeting of German and French leaders in Berlin today to seek ways to tame Europe's debt crisis after G8 leaders meeting at the weekend pushed for Greece to stay in the euro area and supported stimulating flagging eurozone growth.
"We agree on the importance of a strong and cohesive eurozone for global stability and recovery, and we affirm our interest in Greece remaining in the eurozone while respecting its commitments," the leaders said in a statement on Saturday after the conclusion of the Cap David Summit at Maryland in the U.S.
Meanwhile, Chinese Premier Wen Jiabao has vowed proactive policies to prevent a rapid economic slowdown in the world's second-largest economy.
On Wall Street, stocks drifted lower on Friday, as a lack of major catalysts, Facebook's disappointing debut and lingering concerns about the outlook for the eurozone prompted investors to pare their investments further going into the weekend. The Dow shed 0.6 percent, the tech-Nasdaq fell 1.2 percent and the S&P 500 slid 0.7 percent.
Back home, shares fell for the fourth week in a row last week, with benchmark indexes Sensex and the Nifty falling less than a percent each, as nervousness about Spain's banks and fears of a Greek exit from the euro zone kept investors on the edge.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.