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Sensex, Nifty Seen Opening Up On Firm Global Cues

Indian shares look set to open higher on Tuesday, tracking firm global cues from other global markets on hopes of economic recovery.

A gauge of Chinese manufacturing activity climbed in June, signaling the country's gradual recovery from the coronavirus slump remains on track.

Closer home, the Union Home Ministry announced new guidelines on Monday night as India enters 'Unlock 2.0' from July 1.

The new guidelines are based on feedback received from states and UTs, and extensive consultations held with related central ministries and department," the government said in a statement.

Prime Minister Narendra Modi will address the nation today at 4 pm. This would be his sixth address to the nation since the outbreak of the pandemic.

Meanwhile, the government has banned 59 Chinese mobile applications like TikTok, SHAREiT, UC Browser and WeChat, citing national security amid border stand-off with the neighboring country.

Benchmark indexes Sensex and the Nifty ended notably lower on Monday as mounting coronavirus cases both at home and abroad kept investors on edge. The rupee ended up by 6 paise at 75.58 against the U.S. dollar.

Asian markets rallied this morning and gold held steady while oil prices slipped after data showed Japan's industrial output fell 8.4 percent in May from the previous month.

U.S. stocks ended on a buoyant note overnight as strong housing data as well as hopes for more stimulus measures from the Federal Reserve or Congress helped investors shrug off reports showing sharp spikes in new coronavirus cases over the weekend.

The Dow Jones Industrial Average climbed 2.3 percent to reach its best closing level in nearly four weeks, while the S&P 500 gained 1.5 percent and the tech-heavy Nasdaq Composite added 1.2 percent.

European stocks rose on Monday, with encouraging data from Germany, the euro zone and China helping underpin investor sentiment.

The pan European Stoxx 600 gained 0.4 percent. The German DAX rallied 1.2 percent, France's CAC 40 index rose 0.7 percent and the U.K.'s FTSE 100 advanced 1.1 percent.

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