Indian equities are poised for a subdued start on Tuesday, despite positive signals from international markets and a notable decline in U.S. oil prices during the overnight trading session.
Attention may be drawn to FMCG stocks, following Britannia Industries' report of a 9 percent drop in its consolidated net profit for the second quarter. Investor focus will also remain on upcoming earnings reports from companies such as NMDC, Shree Cement, Hindustan Copper, Bank of India, Hindalco, and ONGC.
On Monday, the benchmark indices, Sensex and Nifty, experienced fluctuations but ended the day with minimal overall movement.
The Indian rupee closed at 84.38 against the U.S. dollar, having touched a new record low of 84.39 earlier amidst a selloff by foreign institutional investors (FII).
Asian markets displayed mixed performances this morning as investors seek clarity on U.S. President-elect Donald Trump's policy initiatives while anticipating a key U.S. inflation report later this week for further guidance.
The U.S. dollar maintained its proximity to a four-month high against major global currencies, while oil prices reflected the largest decline in two weeks due to concerns over demand from China. Gold prices remained relatively stable after experiencing a drop of more than 2 percent on Monday, pressured by the dollar's ongoing appreciation.
U.S. stocks continued last week's upward trend on optimism over proposed tax reductions and deregulation anticipated during Trump's second term. The Dow and S&P 500 rose by 0.7 percent and 0.1 percent, respectively, achieving new record highs, whereas the tech-centric Nasdaq Composite remained largely unchanged.
European stocks concluded Monday on a positive note, ahead of a busy week filled with significant economic data releases. The pan-European STOXX 600 surged by 1.1 percent, marking its biggest single-day gain in six weeks, as defense stocks rallied due to expected increases in military expenditure in the U.S. and other nations under a Trump presidency. The German DAX and France's CAC 40 both rose by approximately 1.2 percent, while the U.K.'s FTSE 100 advanced by 0.7 percent.
