Plus   Neg

Sensex, Nifty Seen Opening On Firm Note

Indian shares look set to open higher on Tuesday as oil prices nudged lower and the dollar eased in reaction to British Foreign Secretary Jeremy Hunt's remarks over Brexit talks.

Investors may also cheer trade data showing that India's trade deficit narrowed to $10.89 billion in March from a year ago, helped by rise in exports.

Meanwhile, global brokerage Goldman Sachs said in a report that the government's war on non-performing (NPAs) could boost India's GDP by 60 basis points in FY20.

Benchmark indexes Sensex and the Nifty rose around 0.4 percent on Monday as the latest readings on industrial output and retail inflation helped reiterate investor expectations for further policy easing by the RBI this year.

The rupee fell by 25 paise to close at 69.42 against the dollar as traders adopted a cautious stance ahead of upcoming holidays.

Asian markets hovered below a nine-month high this morning, though hopes for a U.S.-China deal and easing concerns over global growth helped to limit the downside.

Investors await Chinese gross domestic product (GDP) data due on Wednesday for further direction.

The major U.S. averages all ended down around 0.1 percent overnight as disappointing results from Goldman Sachs Group Inc. and Citigroup Inc. weighed on the banking sector.

European markets closed mostly higher on Monday as investors digested the latest quarterly earnings reports and tracked news on U.S.-China trade talks.

The pan European Stoxx 600 gained 0.2 percent. The German DAX edged up 0.2 percent and France's CAC 40 index added 0.1 percent while the U.K.'s FTSE 100 finished marginally lower.

For comments and feedback contact: editorial@rttnews.com

Follow RTT