Sensex, Nifty Seen Up In Cautious Trade
(RTTNews) - Indian shares are seen opening higher on Tuesday amid little cues from U.S. stock and bond markets.
The upside, if any, may be limited as oil prices rose over 1 percent in Asian trade, clawing back some of last week's losses on concerns over tight supply of crude and fuel products.
Benchmark indexes Sensex and the Nifty rose around half a percent each on Monday, while the rupee gained 7 paise to close at 77.98 against the dollar, rising for the third straight session.
Asian markets were mostly higher this morning, gold ticked higher and the dollar dipped slightly as investors braced for Fed Chair Jerome Powell's testimony.
U.S. markets were closed on Monday for a holiday.
European stocks rebounded on Monday after seeing sharp losses the previous week on worries about a recession and bets of bigger interest-rate hikes from major central banks.
The pan-European Stoxx 600 index rose 1 percent despite French President Emmanuel Macron losing an absolute majority in the country's parliamentary election and ECB President Christine Lagarde reaffirming plans to raise the ECB's interest rates twice this summer.
The German DAX climbed 1.1 percent, France's CAC 40 index gained 0.6 percent and the U.K.'s FTSE 100 added 1.5 percent.
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Dollar Rises Against Major Counterparts
