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Sensex, Nifty Seen Lower On Global Cues


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(RTTNews.com) - Indian shares may open a tad lower on Tuesday after lawmakers voted for a new president in an election likely to be won by the ruling BJP candidate.

Also, M Venkaiah Naidu resigned from his post as Minister of Information and Broadcasting, and Housing and Urban Affairs after he was picked as the National Democratic Alliance's candidate for the vice presidential election with consensus at the BJP Parliamentary board meeting.

His exit from the Cabinet sparked speculation that Prime Minister Narendra Modi will likely go for a big Cabinet reshuffle very soon.

Crisil, Jubilant and UltraTech Cement are among the prominent companies that will unveil their quarterly results later today.

Infosys shares could be in focus after founder NR Narayana Murthy said his biggest regret was quitting the company in 2014 and not having listened to other co-founders of the firm.

Benchmark indexes Sensex and the Nifty logged modest gains on Monday to hit fresh record closing highs after Wipro announced a share buyback.

The rupee closed at a fresh five-week high of 64.36 per dollar as weak U.S. data dimmed prospects of more Fed rate hikes this year.

Asian stocks are mostly lower this morning, with uncertainty in Washington over health-care reform and concerns over further policy tightening in China weighing on markets. Investors are also waiting for cues from the BOJ and ECB meetings due this week.

Oil prices held stable after closing down over 1 percent overnight on signs of steady output from producers while the dollar index extended its recent tumble on healthcare bill woes after two more Republicans opposed a revised version of the bill.

U.S. stocks ended narrowly mixed overnight ahead of a busy week of earnings from several big-name companies.

European markets also ended Monday's session on a mixed note, with mining stocks among the best performers after China's GDP data topped expectations.

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This article appears in: Stocks , World Markets , Economy , Oil


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