Sensex, Nifty Seen Higher At Open As Fed Meetings Gets Underway

Indian shares look set to open higher on Tuesday, tracking firm cues from global markets and amid optimism around the upcoming interim Budget to be presented in Lok Sabha on February 1.

The upside, however, may remain capped somewhat ahead of the highly anticipated Federal Reserve decision on interest rates due Wednesday.

Benchmark indexes Sensex and Nifty jumped around 1.8 percent each on Monday while the rupee ended little changed at 83.13 against the dollar.

Asian markets traded mixed this morning as investors grappled with the fallout from Evergrande’s liquidation order.

The dollar moved in a narrow range as a two-day policy meeting of the Federal Reserve gets underway later today.

Oil edged up on concerns over potential disruption to oil supply as the U.S. faced intensifying pressure to confront Iran directly.

U.S. stocks rose notably overnight while yields dipped as the Treasury Department reduced its estimates for first quarter borrowing.

The Dow rose 0.6 percent and the S&P 500 added 0.8 percent to set new record closing highs, while the tech-heavy Nasdaq Composite climbed 1.1 percent to reach its best closing level in two years.

European stocks advanced on Monday ahead of a busy week of earnings, economic data releases and central bank decisions.

The pan-European STOXX 600 briefly touched a fresh two-year high before closing 0.2 percent higher.

France’s CAC 40 finished marginally higher while the German DAX and the U.K.’s FTSE 100 both ended flat with a negative bias.

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