Indian Shares Set For Muted Start

(RTTNews) - Indian shares are seen opening lower on Tuesday as investors react to a stronger dollar, higher U.S. bond yields, climbing oil prices and mixed global cues.

A cautious undertone may prevail after several states reported a significant spike in the number of coronavirus cases over the previous week.

India has been at the forefront in fighting the coronavirus pandemic and "really stands out" in terms of its vaccine policy, Chief Economist of the IMF Gita Gopinath said on Monday.

Benchmark indexes Sensex and the Nifty ended Monday's choppy session on a flat note, while the rupee fell by 23 paise to close at 73.25 against the U.S. dollar.

Asian stocks are trading mixed this morning and gold held near 9-month low on a firmer dollar, as U.S. 10-year Treasury yields held at elevated levels on expectations of faster economic normalization from the pandemic. Oil prices rose on expectations for a rebound in fuel demand.
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