Sensex, Nifty Seen Tad Lower At Open

Indian shares look set to open a tad lower on Monday as countries around the world celebrate the start of 2024. Trading volumes are likely to remain thin due to holidays in the U.S., most of Europe and Asia.

FII flows, crude oil price movements, the latest readings on manufacturing and service sector readings and monthly auto sales figures may sway markets as the week progresses.

U.S. stocks ended lower on the final trading day of the year Friday after seeing significant gains in the closing months of the year on dovish Fed bets.

The Dow slipped marginally, the tech-heavy Nasdaq Composite shed 0.6 percent and the S&P 500 dipped 0.3 percent as data showed business activity slumped in the Chicago area in December.

The Nasdaq skyrocketed by 43.4 percent for the year, the S&P 500 soared by 24.2 percent and the Dow surged by 13.7 percent.

European stocks ended slightly higher on Friday to post their best annual gain since 2021.

The pan-European STOXX 600 inched up 0.2 percent. The German DAX rose 0.3 percent while France’s CAC 40 and the U.K.s FTSE 100 both inched up around 0.1 percent.

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