(RTTNews) - Indian shares are seen opening subdued on Monday, tracking mixed cues from global markets.
U.S.-Iran negotiations appear to have stalled, with both sides exchanging messages over the weekend seeking changes to a draft agreement aimed at prolonging a ceasefire and opening the Strait of Hormuz.
U.S. President Donald Trump said Washington is close to securing a nuclear agreement with Iran, but Tehran insisted that such matters are not presently under discussion.
Iran has reasserted its control over Strait of Hormuz, declaring that all vessels must travel through designated routes and obtain permission from the Islamic Revolutionary Guard Corps Navy.
Addressing an online parliamentary session, Iranian Parliament Speaker Mohammad Baqer Ghalibaf stressed that Iranian negotiators had no trust in the enemy's words and promises.
The Speaker said that Tehran would not agree to any deal with the U.S. until the rights of the Iranian people were secured.
Elsewhere, Israel ordered troops to move further into Lebanon, expanding its ground assault in the battle with the Iranian-backed Hezbollah militant group.
U.S. Defense Secretary Pete Hegseth has said that Washington is prepared to resume military attacks on Iran if a deal could not be reached.
Meanwhile, trade negotiations between India and the United States are set to gain momentum, with both countries looking to take forward negotiations and finalize the interim trade agreement during a U.S. team visit to India from June 1-4.
The Reserve Bank of India is expected to stay pat on interest rates in the June monetary policy committee (MPC) meeting scheduled for June 3-5.
Asian markets were broadly higher this morning as expectations for continued demand for semiconductors and AI-related gear offset lingering uncertainty over a possible ceasefire extension in the Middle East.
The dollar was broadly steady, gold was subdued at $4,527 an ounce and bond yields edged up, with Japanese bond yields reaching their highest level in 40 years, ahead of speeches from several Federal Reserve officials and key U.S. manufacturing and May payrolls report due this week.
Brent crude futures rose nearly 3 percent above $93 a barrel, recovering part of last week's losses from a six-week low, amid uncertainty over the outlook for a peace deal to end the war in Iran.
U.S. stocks fluctuated before closing at new record highs on Friday as Dell raised its full-year guidance and President Trump said he would make a "final determination" on a preliminary deal to extend a ceasefire with Iran, reiterating that Iran "will never have a nuclear weapon or bomb" and the Strait of Hormuz must be open with no tolls and any mines destroyed or removed.
The Dow climbed 0.7 percent, while the tech-heavy Nasdaq Composite and the S&P 500 both gained around 0.2 percent.
European stocks ended narrowly mixed on Friday after the release of mixed inflation data from the region and reports indicating fresh diplomatic progress aimed at easing U.S.-Iran tensions.
The pan-European STOXX 600 inched up 0.1 percent. The German DAX edged up marginally, while France's CAC 40 ended flat with a negative bias and the U.K.'s FTSE 100 eased 0.2 percent.
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