Sensex, Nifty Set To Open Lower

(RTTNews) - Indian shares may open slightly lower on Tuesday as trading resumes after a long holiday weekend.

A cautious undertone may prevail after U.S. President Donald Trump said he intends to end India's preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free.

Slower than anticipated GDP growth, rising oil prices and fiscal deficit concerns may also keep investors nervous.

Asian markets remain broadly lower this morning after China lowered its GDP growth target for 2019 to 6.0 percent from 6.5 percent and warned of tough challenges from rising debt and a trade dispute with the U.S.

The dollar hovered near a two-week high ahead of this week's ECB meeting while oil dipped on concerns over weak demand growth.

Overnight, U.S. stocks edged lower as weak data on construction spending offset investor optimism over a potential U.S.-China trade deal. The Dow dropped 0.8 percent, the tech-heavy Nasdaq Composite slid 0.2 percent and the S&P 500 shed 0.4 percent.

European markets ended Monday's session mostly higher after reports the U.S. and China are in the final stage of negotiations on a long-term trade deal.

The pan European Stoxx 600 gained 0.2 percent. The German DAX edged down 0.1 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both rose by 0.4 percent.
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