Sensex, Nifty Set For Weak Start
(RTTNews) - Indian shares look set to open on a weak note Tuesday after two days of strong gains. That said, a sharp fall in oil prices may help limit the downside.
Oil prices fell nearly 3 percent in the U.S. trading session overnight following reports that Isael and Hezbollah are likely to reach a cease-fire agreement within the next few days.
Asian markets traded mostly lower this morning despite the Dow Jones Industrial Average extending gains for a fourth straight session to reach a new record closing high overnight on positive reaction to news that President-elect Donald Trump intends to nominate billionaire hedge fund manager Scott Bessent as Treasury Secretary.
Bessent is seen as supportive of the equity markets and an advocate for deficit reduction. He has also called for Trump's planned tariff increases to be implemented gradually, which could reduce the impact on inflation.
European markets also finished on a firm note overnight after a fall in bond yields and amid expectations that the ECB will cut interest rates steadily in 2025.
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