Sensex, Nifty Set To Follow Global Peers Higher

(RTTNews) - Indian shares look set to open higher on Tuesday amid strength across global markets. The direction of rupee and oil price movements may sway sentiment as the day progresses.

Benchmark indexes Sensex and the Nifty shrugged off weak global cues to end up around half a percent each on Monday, while the rupee fell by 3 paise to close at 79.81 against the dollar.

Asian markets followed Wall Street higher this morning, while the dollar held firm below a two-decade peak versus major peers as a two-day policy meeting of the Federal Reserve gets underway later today.

Gold steadied amid speculation over the Fed's rate hike while oil prices edged up slightly on supply woes.

U.S. stocks fluctuated before closing higher overnight as the Fed meeting loomed and a measure of home builder sentiment fell for a ninth straight month.

The Dow rose 0.6 percent, the tech-heavy Nasdaq Composite climbed 0.8 percent and the S&P 500 added 0.7 percent.

European stocks ended Monday's session mostly lower as investors braced for a slew of central bank meetings.

The pan European Stoxx 600 ended flat with a negative bias. The German DAX edged up half a percent, France's CAC 40 index dipped 0.3 percent and the U.K.'s FTSE 100 declined 0.6 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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