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Sensex, Nifty Seeking Rebound As Oil Prices Plunge

(RTTNews) - Indian shares may open a tad higher on Tuesday after steep losses the previous day. Energy stocks could be in focus after crude oil prices plunged over 4 percent overnight amid concerns about outlook for energy demand.

India's Covid-19 recovery rate has crossed the 80 percent mark with over 90,000 recoveries recorded for the third day in succession, government data showed but experts said the recovery percentage is of very little significance from an epidemiological perspective.

Benchmark indexes Sensex and the Nifty fell over 2 percent on Monday amid across-the-board selling. The rupee settled 7 paise higher at 73.38 against the U.S. dollar.

Asian stocks are trading mostly lower this morning on concerns a new round of pandemic business restrictions would threaten a nascent recovery.

Investors also kept a close eye on U.S.-China tensions after TikTok's parent company ByteDance and prospective buyer Oracle issued conflicting statements regarding basic terms of their proposed deal.
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